Netflix Expanding Audio Push

Netflix is diving deeper into the podcast space in a bid to keep audiences invested in its shows and movies.

The L-A Times reports the streaming giant is expanding its podcasts, taking pitches from outside producers and is looking to hire an executive to lead its audio push, according to people familiar with the plans who were not authorized to comment publicly.

“Podcasts are an excellent way for fans to connect with our stories and talent, and our marketing team plans to make more of them,” Jonathan Bing, spokesman for Netflix, said in a statement.

Bing declined to elaborate on the company’s plans and types of podcasts it would produce.

Netflix faces plenty of competition. Apple last month launched a new podcast subscription platform, while Amazon recently snapped up West Hollywood podcast publisher Wondery, maker of the popular “Dr. Death.” In the last couple of years, Sweden’s Spotify has been rapidly expanding, acquiring a series of podcast networks and producers, including Gimlet Media and Parcast.

Although Netflix executives have stressed that they’re not eager to diversify beyond their core business of streaming, some podcast producers are hoping the company could still emerge as a bigger financial backer for audio creatives.

The audio push builds on Netflix’s existing library of about 30 podcasts, which are primarily tied to the promotion of popular TV shows and movies such as “The Crown” and “The Irishman.” The streamer even has a podcast for its jobs page, called “We Are Netflix,” that features employee accounts about life at the company.

So far, Netflix has used mostly outside producers to make its podcasts, and it taking pitches for new show ideas, several people familiar with the matter said.

The investment in audio can pay dividends. Podcasts can be an effective way to build marketing buzz for shows. About 80 million Americans listen to podcasts weekly, up 17% from last year, according to a survey by Edison Research and Triton Digital.

Podcasts have become a popular way for creators to inexpensively test out ideas, creating new intellectual property that can later be developed into TV shows or movies.