Facebook is slowly pulling away from its podcasting plans, a report claims
Facebook, taking a cue from other audio platforms, introduced a number of new audio products in last April which included a Clubhouse live audio and new support for podcasts. But now it is very much visible that the company is losing its interest in its podcasting plans. Facebook is now looking forward to explore various other opportunities with its podcasting partners like events in the metaverse and e-commerce and short video projects (thanks to competition from Tik-Tok).
It was a competitive move for Facebook to foray into the audio industry when Clubhouse was valued at $4 billion and Spotify and Apple were also leading in the podcasting market. Facebook will take a lot of time to get anywhere near both Apple and Spotify even if it spends all the money on podcasting venture.