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Spotify's stock lost more than 1% on a Bloomberg report that Apple is considering funding its own original podcasts.
Apple declined to comment.
According to the report, Apple executives have turned to media companies to buy exclusive rights to podcasts.
Spotify has invested heavily in original podcasts. CEO Daniel Ek announced plans to spend between $ 400 million and $ 500 million on original podcasts this year, including buying Gimlet Media and Anchor, two start-up podcasts.
Gimlet Media has produced a variety of original fiction and non-fiction podcasts, including "Reply to All", "Startup" and "Homecoming". Spotify has bought for $ 230 million, according to Neiman Lab.
The Apple Podcasts app, installed by default on iPhones, is by far the most used podcast application, according to most estimates. However, Apple does not host or finance its podcasts. Instead, it hosts a directory of links that allows users to download podcasts from other servers.
Apple was down less than 1% on Tuesday. A flawless stay
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