How the coronavirus crisis has helped Spotify's podcast business

Some are calling it the second golden age of audio.

The coronavirus has had mixed effects on the industry. Many people listen to podcasts when they are commuting or are at the gym. “People are at home,” said Mark McCrery, chief executive of Podtrac Inc., a Washington D.C.-based firm that tracks the industry. “They are not commuting. They are staying inside.”Still, U.S. weekly podcast downloads were up 20% for the week ending April 19 compared to the first week of January, Podtrac said. Some categories such as news saw a 57% increase, while other topics dropped off , according to Podtrac.

Some companies, including New York-based Luminary and San Antonio-based iHeartMedia Inc., have laid off or furloughed workers and cut salaries amid the coronavirus crisis. Luminary sells $4.99 monthly subscriptions, while iHeartMedia has free, ad-supported podcasts and operates radio stations.

In contrast to much of Hollywood, Wondery, Spotify and other podcast companies such as New York-based Wonder Media Network“Podcasting is still an extremely healthy and growing medium,” Spotify’s Holt said. “I think we’re going to be fine.”

You can binge listen artcuriouspod on Spotify. It's dope. That is all.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Adafruit builds PPE and medical devices to help in coronavirus crisis - Business InsiderElectronics manufacturing company Adafruit has seen a 90% plunge in sales during the coronavirus pandemic, but it's been able to overhaul its operations to build medical supplies for crisis relief
Source: BusinessInsider - 🏆 729. / 51 Read more »