Netflix has hired former Apple Podcasts executive Steve Wilson, according to Bloomberg. He will oversee podcast content acquisition for the streaming giant.
What We Know: Wilson previously managed partner relations at Apple Podcasts. Most recently, he left his role at Daylight Media. Initially, he will join Netflix as a consultant. Netflix confirmed the appointment to Bloomberg. The hire follows layoffs at the streaming giant where over a reported 1,000 staff were slashed, including former chief content officer Bela Bejaria. Wilson declined to comment to Bloomberg.
What’s At Stake: Netflix co-CEO Ted Sarandos addressed Netflix’s podcast spending at Bloomberg’s Screentime conference last month. He said podcast and creator deals are a “very small investment and very small addition” to what the company does. That spending remains a fraction of Netflix’s $20 billion content budget. However, now nearly a year into the content being made available on the platform, Netflix has yet to share any specific data to performance, viewing, or subscriptions added based on podcast content. However, one study found 13% of U.S. Netflix households watched at least a minute of a podcast there.
What Remains Unclear: Notably, Netflix’s terms and financials with Wilson’s appointment are unknown. Additionally, the platform has not released viewership data for podcasts on its platform. Still, it remains unclear whether Wilson’s consulting role will become permanent.
What It Means: The appointment arrives at an uncertain time for the platform with decreasing engagement and spending still moving forward. Last year, Netflix recruited certain titles with Spotify, Barstool Sports, and iHeartMedia, which had to leave YouTube. In response, YouTube is shifting their business model to encourage creators to remain on the platform.
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