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.
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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
