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Apple plans to pay for exclusive podcasts, report says

The podcasting business is about to get crazy competitive.

Apple may have its own podcast programming in the future. 

Apple made podcasts mainstream when it began support for the audio programs back in the days of the iPod. Over the years, the company relegated itself to just a platform for podcasts. But it now reportedly plans to fund its own original programming to compete against other podcast services such as Luminary, Stitcher and Spotify.  

The tech giant plans to purchase the exclusive rights to podcasts, according to a Tuesday report from Bloomberg, which cited people familiar with the matter. Apple executives have contacted media companies to discuss buying programming, according to the report, which didn't name the companies. 

Apple declined to comment. 

As the podcasting business grows, companies are looking to score their own exclusive podcasts. Stitcher launched its Stitcher Premium service in 2017 that featured shows available only on the platform. Spotify jumped into the podcasting business when it acquired podcast network Gimlet Media and podcasting app Anchor in February. 

In March, podcast service Luminary bought the rights to more than 40 exclusive shows featuring well-known talents such as Conan O' Brien and Trevor Noah for its own podcast subscription service.