Boom in Audio Content and Podcast Services in 2021 Driven by Advancements in Smart Speakers and True Wireless Headsets

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2Q 2021 | IN-6160


Apple Joins Podcast Subscription Market


Apple has released its Q2 2021 financial results, with earnings from services remaining the second strongest revenue driver after iPhone sales, reaching US$16.901 billion, 26% higher than revenues generated in the same period in 2020 (US$13.348 billion). There is no doubt that in the past two years, Apple has shifted to a cloud service business model as it expects revenues from its hardware to decline due to overall smartphone and tablet maturity and extended device replacement cycle, especially after consumers upgrade to 5G devices. At the same time, at the company’s latest spring event, Apple expanded its service portfolio by introducing Apple Podcasts Subscriptions (within the Apple Podcasts app), that provides ad-free content and allows listeners early access to podcasts. Audio content and podcasting are showing high demand from consumers and have generally gained interest from other tech giants like Facebook, which is building its own in-app podcast player. Facebook says more than 170 million people connect to podcast pages, and more than 35 million people are members…

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