Apple is reportedly planning to launch a new subscription service that would be focused on podcasts.
The tech giant is currently in talks with production companies about the service which would charge people to listen to podcasts, reports The Information.
By charging for individual podcasts, Apple could give creators a new way to make more money, which may convince them to leave rival services
The service could be bundled with other services like Apple Music, ?Apple TV+?, Apple Arcade, and Apple News+ as part of the Apple One bundles that the company offers.
Currently, it is not clear what sort of content would be made available behind the subscription paywall.
Spotify is also planning to create a separate service for exclusive podcasts which became popular in the pandemic as people stayed home.
The streaming giant has invested heavily into podcasts over the last few years. It has spent over $800 million on snapping up podcast companies.
Amazon is also looking to disrupt the podcasting industry with its recent acquisition of the Wondery network.
Apple is said to be working on original podcasts since July 2019. It has been reported that the original podcasts would boost its original Apple TV+ content.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)