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Apple is planning to fund its very own podcasts to compete with other leading audio streaming brands, a report by Bloomberg revealed on Tuesday.
According to “people familiar with the matter”, the company has entered into talks with various companies to buy podcast streaming rights.
The move suggests that Apple will soon begin producing and streaming original podcasts exclusively available on its own platforms.
Bloomberg also noted that Spotify’s shares dropped by 2.7% in New York after the news of Apple’s intentions spread.
Feature image: Apple