Netflix has hired former Apple Podcasts executive Steve Wilson to oversee podcast content acquisition, strengthening its efforts to expand beyond films and series as it looks to draw more viewers to its streaming platform, according to a report by Bloomberg.
Wilson, who previously managed partner relations at Apple Podcasts and recently departed Daylight Media, will initially join Netflix as a consultant. The streaming company confirmed his appointment, while Wilson declined to comment.
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The appointment comes at a challenging juncture for Netflix, which announced plans to cut 6% of its workforce earlier this month, as it seeks to establish a foothold in the competitive podcast market.
Netflix’s podcast ambitions face YouTube challenge
Netflix began bringing video versions of established audio shows to its platform last year, signing up programmes including pop culture show The Breakfast Club and The Bill Simmons Podcast, a leading name in sports podcasting. However, the arrangement required participating shows to leave YouTube, Netflix’s principal rival for online video audiences.
YouTube, the leading platform for podcast consumption in the US, has responded by offering talent across categories millions of dollars to stay on its service. For established podcast networks and their biggest shows, moving away from YouTube risks sacrificing audience reach and revenue, even as Netflix offers an opportunity to gain visibility on a major streaming platform.
Netflix’s podcast strategy has largely centred on persuading podcast networks to encourage their talent to join the service. While an early move to Netflix can bring Hollywood recognition, creators must weigh that appeal against the potential cost of losing their existing YouTube audiences.
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Podcasts remain a small part of Netflix’s spending
The podcast initiative remains a relatively minor component of Netflix’s overall content investment, which stands at $20 billion and is directed primarily towards films and series.
Netflix co-Chief Executive Officer Ted Sarandos described podcast and creator deals as a “very small investment and very small addition” to the company’s existing business, while speaking at Bloomberg’s Screentime conference last month.
Netflix has also not disclosed viewing figures for podcasts on its platform, despite publishing a report twice a year detailing the time audiences spend watching its programmes. The absence of podcast-specific figures leaves the scale of audience engagement unclear.
A study published earlier this year found that 13% of US Netflix households had watched at least one minute of a podcast on the service. The Breakfast Club emerged as the most popular programme when measured by total views.
Wilson’s appointment places a dedicated content acquisition executive at the centre of Netflix’s podcast expansion as the company seeks to build the offering while competing with a platform that already commands a substantial share of podcast consumption in the US.
(With inputs from Bloomberg)