Yes, and as you’d expect, our goal is for it to go up. We fundamentally believe that podcasting is still undervalued by advertisers, particularly the vast majority of podcasts that are currently un-monetized and unsupported. By setting a Paid Listens Rate we are jumpstarting a sustainable marketplace for brands and advertisers on our platform, and are aligning with podcasters in making this increasingly valuable over time.
We are also taking a risk by guaranteeing a rate on every listen. We could find out that the initial Paid Listens Rate is unsustainable relative to the amount of platform advertising we are actually able to sell. We are committed to communicating early and often with the podcast community about how it’s going: this only works for us if it’s working for you.