Apple Discussing Adding Subscription Service to Podcast Business

The logo for Apple Podcasts is displayed on a smartphone in an arranged photograph taken in the Brooklyn borough of New York, U.S., on Tuesday, Sept. 29, 2020. Record labels, streaming services and TV networks are all commissioning original podcast series, hoping to tap into the growing audience for on-demand audio. Photographer: Gabby Jones/Bloomberg
The logo for Apple Podcasts is displayed on a smartphone in an arranged photograph taken in the Brooklyn borough of New York, U.S., on Tuesday, Sept. 29, 2020. Record labels, streaming services and TV networks are all commissioning original podcast series, hoping to tap into the growing audience for on-demand audio. Photographer: Gabby Jones/Bloomberg

(Bloomberg) -- Apple Inc. is working on adding a subscription service to its podcasting business in 2021, part of a broader push that has included funding new original programs, according to people familiar with the company’s plans.

Apple has discussed the plan to create a subscription service with its partners, said the people, who asked not to be identified because of nondisclosure agreements. The company also has talked about stepping up funding for new shows and marketing, the people said.

The plan to create a subscription tier, first reported by the Information, would put Apple in closer competition with Spotify Technology SA. Shares of that company tumbled more than 7% on Friday.

Apple declined to comment.