Spotify is rolling out a tool that it says allows broadcast publishers turn their radio content into on-demand podcasts.
The technology, called B2P, is available to any publisher with a Megaphone account. Megaphone is Spotify’s enterprise podcast platform.
“After a simple, one-time setup process in Megaphone, broadcast-to-podcast will automatically create new podcast episodes from previously broadcasted content, making it easier than ever for broadcast publishers to reach new audiences with their content,” says Emma Vaughn, global head of advertising business development & partnerships at Spotify,
In contrast, “it typically takes publishing teams approximately 30 to 60 minutes to manually convert each individual broadcast episode to a podcast,” Vaughn continues. “This includes downloading the episode off the radio platform, removing the ad spots, placing ad markers, and uploading the episode to a podcast platform.”
Radio consumption is booming: online listening increased by 50% in the U.S. from m 2019 to 2022. But consumers want to listen on their own schedule—hence the popularity of podcasts.
“With podcast ad spending projected to hit nearly $2.2 billion in 2023, this represents a huge revenue opportunity for broadcast publishers,” Vaughn adds.
Vaughn claims that Spotify has a relationship with 500 million users, including 50% of Gen Z and millennials in the U.S.