Apple Podcasts Subscriptions Launching on June 15
Apple will make Podcasts subscription options available starting on Tuesday, June 15, Apple said today in an email that was sent out to podcasters (via The Verge).

Support for Podcasts Subscriptions was introduced with the iOS 14.6 update, but in late May after releasing the update Apple said that the rollout of the feature would be delayed until June to make sure that the "best experience" is being provided to creators and listeners.
Podcast Subscriptions were first announced at Apple's April event and will see podcast creators able to offer paid subscription options with access to exclusive content, ad-free listening, and other perks.
Apple likely delayed the subscription feature because Podcast app users have been unhappy with the changes that were implemented in an iOS 14.5 update. There were multiple complaints about the usability of the app, which Apple began to address in iOS 14.6. When delaying the Podcast Subscriptions launch, Apple said that further improvements to the Podcasts app are in the works.
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