Spotify Acquires Start-up Podz to Boost Podcast Experience
Spotify has acquired Podz, a podcast discovery platform that uses machine learning to preview clips from various podcast episodes. Powered by state-of-the-art machine learning technology, Podz generates high-quality clips that allow users to preview key moments from podcast episodes, encouraging them to discover and listen to new podcasts.
“At Spotify, we are investing to build and scale the world’s best (and most personalized) podcast discovery experience,” the company said. “We believe that Podz’ technology will complement and accelerate Spotify’s focused efforts to drive discovery, deliver listeners the right content at the right time, and accelerate the growth of the category worldwide.”
Spotify said it has had machine learning experts focused on improving audio discovery for almost a decade, but there is more work to be done.
The company now plans to integrate Podz’ technology into the Spotify experience, and listeners should start seeing elements of that work before the end of the year.
Podz is the first podcast app that enables listeners to find new podcasts based on what they currently listen to on Spotify, and further build upon those connections by sharing podcasts with friends.
Podz recently raised $2.5 million in pre-seed funding and celebrities like Katie Couric and Paris Hilton are also among the investors.
Spotify has also debuted Greenroom, its live audio Clubhouse rival. More and more companies are now investing in Podcast streaming.
According to a recent report, Facebook is reportedly planning to bring its podcast tool to the platform on June 22. They are likely to add a new feature that will allow listeners to create clips from their favorite shows.