This post originally appeared on Daily Express :: Celebrity News Feed
He said to MPs during a Digital, Culture, Media and Sport Select Committee meeting that the deal was different to their work with musicians.
Horacio said: “Like a lot of our services, there is a market for certain talent because they command a certain amount of consumption.
“We don’t get to negotiate directly with artists the way we negotiate with podcasters or people who create podcasts so the structure of that market is very different.
“The product is valued based on how many users it can attract, how many streams it will attract, which in turn determines how many advertisers are willing to advertise on the podcast which determines the economic opportunity, there’s a market that’s emerging for talent in that regard.”