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Spotify overtook Apple Podcasts as the biggest US podcast platform in 2021, when the Swedish company drew 28.3 million monthly US podcast listeners, about 200,000 more than its rival did. Come 2025, Spotify’s lead will widen to 13.2 million, while Apple’s growth in the sector will all but stagnate.

Beyond the chart: Spotify’s success hasn’t come cheap, or free of controversy. The company has amassed a slew of ad tech-related firms in an effort to expand its podcast ad revenues. It has also struck exclusive deals with hit podcasts, making Spotify not just a service provider but a publisher as well. Listeners and creators alike are increasingly dissatisfied with the platform’s content moderation practices, which could spell trouble for Spotify’s future.

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