Exploration Audio Newsletter - May 20, 2021

Apple Music reported this week that starting next month, users will be able to stream lossless audio across its entire 75 million song catalog on its basic Apple Music subscription tier.

Around the same time of the announcement, Amazon's high-fidelity streaming service, Amazon Music HD, is now available to Amazon Music Unlimited subscribers at no extra cost. The HD tier has more than 70 million lossless CD-quality songs in HD and over 7 million “Ultra HD” songs, which are effectively studio masters. It previously cost $14.99 a month while the Unlimited tier is $9.99 a month.

According to the Interactive Advertising Bureau (IAB) at its annual Podcast Upfront, podcast revenue in the US is expected to exceed $1 billion in 2021 and reach $2 billion by 2023. The study, commissioned by PricewaterhouseCoopers, showed that the podcast industry’s ad spend reached $842 million in 2020, a 19% year-over-year increase from 2019’s $708 million.

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