Twitter Could Be Charting Into Spotify, Apple's Territory By Introducing Podcasts On Its Platform

Twitter Inc (NASDAQ: TWTR) could be working on a dedicated tab for podcasts, according to a screenshot posted on the microblogging site by security researcher Jane Manchun Wong.

What Happened: Wong's tweet features a screenshot of a microphone icon on Twitter’s bottom menu bar, which appears to lead to a page titled “Podcasts,” as first reported by The Verge on Wednesday.

Twitter is working on Podcasts tab pic.twitter.com/64tTd3XPdu

— Jane Manchun Wong (@wongmjane) March 2, 2022

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Why It Matters: Last year, Jack Dorsey-founded Twitter launched “Spaces,” a live audio conversations feature, to a wider audience following a small pilot test in December. It came amid a pandemic-fueled boom in audio social apps such as Clubhouse and Discord. In January, Twitter acquired Breaker, a popular podcast app.

It was not immediately clear how podcasts would appear on Twitter or if it will incorporate Spaces. Currently, audio sessions recorded on Spaces are available for 30 days.

Spotify Technology SA (NYSE: SPOT) and Apple Inc. (NASDAQ: AAPL) are currently lead players in the podcasting space.

Price Action: On Wednesday, Twitter shares closed 2.6% lower at $34.62 in the regular session and fell 0.4% in extended trading.

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