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- Spotify is partnering with payments startup Creative Juice to expand its video podcasting program.
- Some influencers have access to programs that include product beta testing features.
- Creative Juice provides business tools for creators and invests directly in influencers.
Video podcasting has become a major trend in the creator economy, from YouTube investing in new tools to viral podcast clips on TikTok.
Audio leader Spotify is delving into this space and is currently partnering with payments startup Creative Juice to create video podcasts that bring creators to the platform.
On March 28th, select Creative Juice influencers will be able to access a “white glove service” through their podcast program. This includes access to beta testing of new products, personalized support and guidance from the Spotify team, and exclusive promotions on Spotify.
Creative Juice CEO and co-founder Sima Gandhi said:
So far, select YouTubers who have had early access to this partnership include Oompaville (4 million subscribers), Growwithjo (3.9 million subscribers) and Rich Lopp (335,000 subscribers). ), and The Editing Podcast (45,000 subscribers).
“When I started the podcast with the support of the partnership between Juice and Spotify, the podcast was in the top 50 on the comedy charts and in the top 12 overall, exceeding my expectations,” said YouTuber Oompaville. said in a statement. They also used funding from Creative Juice to build their production team and invest in design and merchandise.
Video podcasting has been on the rise in the last few years. Edison Research found that in 2022, 72% of his weekly podcast listeners in the US are actively watching video podcasts.
According to Edison, YouTube, the second most popular destination for listening to podcasts, has introduced a dedicated podcasts tab and a beta test of audio ads. YouTube has also added tools to Creator Studio for users to create and upload videos of her podcasts and track certain analytics.
Spotify has taken notice and is competing with YouTube to expand the tools and resources for creators to create video podcasts. According to The Verge, publishing video podcasts will soon be available to creators who sign up for Spotify for Podcasters (the feature was previously exclusive to her Anchor users).
Creative Juice selects which influencers to work with based on whether the creator has a clear business vision, based on metrics such as past and future estimated revenue, engagement, and views per video. the company previously said.
Creative Juice provides automated business tools for creators, including fundraising, banking, and tax assistance. The company also invests directly in creators through an initiative called Juice Funds, which launched in 2021. The company offers upfront investments ranging from $25,000 to his $2 million per YouTube creator, and receives a portion of the creator’s YouTube ad revenue. — Between 5% and 30% — from existing and future content over 1 to 3 years. These deals are similar to content license agreements with no long-term commitment. The company also offers a program called Juice Funds Refresh. It provides funding to creators in exchange for a portion of advertising revenue from the existing YouTube content library for 3, 6 or 9 months.
Creative Juice’s terms and conditions will remain the same for creators who choose to partner with Spotify, the company said. On Spotify, podcast creators are rewarded through advertising, fan-supported subscriptions and donations. Spotify is currently testing new sponsorship models such as Sponsored His Lead Ads, which are automatically inserted into pre-selected ad breaks selected by the podcast host. Creative Juice declined to comment on how much Spotify is paying certain creators under the program.
“We recognize that creators operate on multiple platforms,” Gandhi said. “We are partnering with Spotify to help them grow and increase their monetization opportunities.”
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