Facebook is shutting down its podcast platform next month, within less than a year of its launch as the company "re-evaluates" its audio offerings in a fast-changing world of technology.
The company is also shutting down short-form experience called 'Soundbites' and 'Audio Hubs', The Verge reported on Tuesday.
"After a year of learning and iterating on audio-first experiences, we've decided to simplify our suite of audio tools on Facebook," a Facebook spokesperson was quoted as saying in the report.
"We're constantly evaluating the features we offer so we can focus on the most meaningful experiences," the spokesperson added.
The social network is also integrating its live-streaming Live Audio Rooms feature into its broader Facebook Live suite.
After foraying into podcasting and audio features, Meta-owned Facebook is losing interest in its podcasting plans, looking to prioritise other initiatives in collaboration with its podcast partners.
According to reports, Facebook is now focused on pursuing other opportunities with podcast partners -- like events in the metaverse and e-commerce.
Facebook's parent company Meta is also said to be prioritising short-video projects above other initiatives, likely due to increasing competition from popular short-form video app TikTok.
The company has been receiving feedback from creators on what's working well and what it can improve on.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)