Spotify, Apple Music and the other streamers have become the new radio among in-demo listeners.
But they barely make a profit because music rights fees are so high.
The music industry is soaring.
So why are streaming services like Spotify going into podcasting, a place where Apple already resides without earning its usual profit margins.
Spotify is spending hundreds of millions to build its podcasting platform concerning the music industry.
Now the record labels are jumping in.
Two just launched podcasting deals.
Radio can’t seem to profit from this nascent business.
What do the record labels know that radio doesn’t?