Stripe has done a deal with Spotify to make it easier for podcasters to accept payments and ensure revenue becomes recurring. The move will see Stripe’s technology used in the recently launched Spotify Subscriptions, which enables podcasters to offer paid monthly content.
“Spotify Podcast Subscriptions make it easy for creators to establish and manage an important new revenue stream and for listeners to seamlessly subscribe to content that they enjoy,” said Michael Mignano, Global Head of Talk Verticals, Spotify.
“Stripe shared our passion for this feature; their technology and ability to collaborate at speed helped enable the launch of Podcast Subscriptions in 2021, connecting creators and listeners across the world.”
The use of Stripe’s payment infrastructure means Spotify Podcasts Subscriptions can handle dozens of currencies for podcasters in over 30 countries.
“Platforms like Spotify are making it easier for creators to quickly generate recurring revenue from the thing they love doing the most: sharing their stories,” said Mike Clayville, Chief Revenue Officer at Stripe. “We’re thrilled to help Spotify accelerate the growth of the creator economy. And personally, I’m excited to subscribe to some new podcasts!”
Spotify is the number one podcast platform by listenership, with 28.1m monthly listeners in the US alone. It is the latest large deal to be announced by Stripe.
Last week the company, led by Limerick brothers Patrick and John Collison, inked a deal with Ford Motor Company that will see its technology used in payment services for customers.