In yet another attempt to diversify its offerings as they prepare to go public later this year, Spotify has announced “Upstream,” an original podcast centered around one-on-one conversations with brand executives focusing on the future of their industries.
The first seven episodes are already available on the “Spotify for Brands” platform and feature discussions on open-ended questions facing the economy at large with such influential figures as Mark Thompson, CEO of The New York Times Company, Jon Iwata, IBM’s chief brand officer, as well as leaders from brands like Dropbox and Airbnb.
Spotify’s chief marketing officer Seth Farbman hosts the show, which is the company’s first foray into the swiftly growing podcast market. As high as 10 percent of American adults have downloaded and listened to a podcast in the past month, a growing trend that the music-streaming service hopes to capitalize on.
“It’s never felt more vital to talk about culture: where it’s headed, and what it means for all of us,” Spotify wrote on its site.
Launched in July, Spotify for Brands is a service that provides marketing insights based on user data. With 75 percent of Spotify’s revenue going to licensing deals with major records, the shift to original content could see the brand achieve higher profit margins.
Apple has so far dominated in the podcast market, forcing other brands that break into the audio game to play ball. However, as other services have started hosting popular shows as well, Apple’s market share has declined recently from 70 percent to just 55 percent.