Unless I have incorrect data, they have to pay like 70% of their revenue to record labels because they hold the rights.
Knowing that, it feels like podcasts was their "big bet" to "own" some content of their own and be able to receive a bigger share? Just an educated guess really on my end.
Sony Music owns 2.5% of Spotify and Universal Music owns 3.5%. I sometimes wonder if those publishers have made more money on the stock or on royalty payments? It also creates a bit of a conflict of interest for the companies in that they benefit in more than one way when by getting their artists on Spotify.
https://www.macrotrends.net/stocks/charts/SPOT/spotify-techn...
How come services can produce exclusive games, podcasts, tv shows and even movies, but not music or books?
I would note that there have been some "artists" showing up on Spotify's recommended playlists who haven't been heard of anywhere else, which are suspected of being their "store brand" (where Spotify have presumably paid some session musicians to record the song but keep all the rights).
For music: Well they tried. Apple Music and Spotify had a little exclusives war in the beginning, but I think neither managed to grab enough that it mattered
There is already an extension to completely hide podcasts[2].
[2]: https://github.com/theRealPadster/spicetify-hide-podcasts
https://chrome.google.com/webstore/detail/df-tube-distractio...
I tried Apple Music for the last few months, and while it's very bad on so many points, I like that they made a separate Podcasts app. I'm still not decided on whether I'll stick with Spotify or Apple music mainly because of the podcasts thing.
I know I might be the minority but that's what happened to me the last time I wanted to try something different from Spotify.
I dunno if the space needs more competition or what but UI/UX does not seem to be a priority for the main players.
The podcast: Joe Rogan Experience