Technology majors are adopting Spotify Technology SA (SPOT)’s recommendations for podcasting in hopes of making their podcast services. Facebook Inc. (FB) and Apple Inc. (AAPL) have both announced products in this area.
Recent years have seen a significant increase in the popularity of podcasts among a variety of different audiences. The ease with which these types of content can be consumed may be one reason why they are so popular. People indeed listen to a speech without being distracted from the things they’re doing. You can listen to podcasts while driving, exercising in the gym, doing homework, etc. A podcast listener’s consumption of content per day is only limited by the number of hours per day that the listener is awake. Podcasters offer a wide variety of topics and formats for conversation with the audience that makes it no surprise that big companies can’t ignore the phenomenon of podcasting.
Facebook recently launched the Live Audio Rooms platform, a product similar to Clubhouse. Besides the fact that you can chat with invited friends, this app lets you listen to podcasts on the Facebook app and offers tools to make your audio files and share them on Facebook or WhatsApp. It is part of Facebook’s plan for the new options to become another way for creators to tell their stories to a wider audience and be paid. Currently, Live Audio Rooms will receive donations, and in the future, it will be possible to charge a subscription or one-time fee. Facebook has an advantage over its competitors because it lets you connect with users already logged in to Facebook. Live Audio Rooms have already garnered 170 million users, according to the social network.
There’s been a rally since Facebook Inc. (FB)’s major moving averages moved above its 200-day average. Over the past 30 days, Facebook shares have risen 10.93%. Since the beginning of the year, the stock had gained 67.90%, with a gain of 32.14 % behind the market on the year. The company also trailed competitors and similar names by 194.27%.
Even though Apple’s podcast app has existed for a long time, the company may not have given it the attention it deserves. Although podcasts have grown in popularity, Apple has placed a concentrated investment in this segment. A subscription service for the podcast app was launched last week by the company. Subscribers will be able to access premium content for a charge directly from producers, not through ads. It is reasonable to assume that many users will subscribe to the podcast app since Apple’s audience is generally loyal to all sorts of subscriptions.
In the past 12 months, the company gained 91.80% in share price. The stock price rose 0.06% during the last five trades and 10.04% during the last 30 trades. But it was down 5.97% during the last three months and 16.11% during the previous six-month period.