Spotify announced Thursday the launch of its new “Partner Program” that lets popular podcast hosts monetize their video content.
Spotify’s new program gives qualifying creators on its platform opportunities for extra income beyond just advertising revenue, such as video payouts. The program was initially announced back in November and is officially available in the U.S., the U.K., Canada, and Australia starting Thursday.
The program is expected to enhance Spotify’s video podcast library, likely aimed at competing with YouTube, which currently dominates the overall video space. According to Spotify, over 65% of eligible podcast shows have already enrolled in the Partner Program since the company revealed it at its Now Playing event. This includes Smart Money Happy Hour, The Paranormal Podcast, The Makeshift Podcast, Girls Rewatch Podcast, and more.
Spotify has also begun allowing Premium users to watch video podcasts without ads. It also launched a new tool called Podcast Clips, which are short-form videos uploaded by creators to promote their shows and help users discover them more easily. Since the feature’s launch in select markets in November, the company claims that clips are “33% more effective than previews at converting browsers into engaged listeners.”