Facebook pulls the plug on podcast business after a year
Last April, during a strong market for podcasting and audio in general, Facebook unveiled a number of audio initiatives. However, according to report, the company's enthusiasm has waned and it is now focusing on other efforts, which has disappointed several suppliers.
FollowFacebook is withdrawing podcasts and expects to remove them entirely from the social-media service beginning June 3. According to a message emailed to partners, Facebook, a subsidiary of Meta Platforms Inc., will cease allowing users to add podcasts to the service starting this week. It will phase out its short-form audio product Soundbites as well as its central audio hub.
Last April, during a strong market for podcasting and audio in general, Facebook unveiled a number of audio initiatives. However, according to report, the company's enthusiasm has waned and it is now focusing on other efforts, which has disappointed several suppliers.
"We're continuously assessing the things we offer so we can focus on the most important experiences," a Meta representative said in an email. The speaker went on to say that they didn't have a precise date for when Soundbites and the audio hub will close, but that it would be in the "coming weeks."
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In the email to partners, Facebook stated that it does not intend to notify users that podcasts would no longer be available, leaving it up to the publishers to determine how to convey that information. Users will be able to go live with simply audio or audio plus video thanks to the integration of Live Audio Rooms into Facebook Live.
In recent years, the podcast market has become increasingly crowded. Spotify Technology SA has licenced successful shows as well as bought businesses. Amazon.com Inc. bought the Wondery podcast network as well as a hosting platform. Last year, the live audio platform Clubhouse was valued at over $4 billion, and every internet firm wanted to replicate its services.
That made Facebook's entry appear unavoidable, but a year later, the platform and its parent company Meta are taking a different path.
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To compete with TikTok, the firm changed its name to Meta to underline its goal in establishing the metaverse. It is also pushing users into short-form movies called Reels.
