Synopsis
The streaming giant’s podcast journey since 2019 has been marked by strategic pivots. It initially pursued platform exclusivity before opening up distribution, including making Joe Rogan’s programme available on YouTube and Apple Podcasts.As a consequence, the company will also cancel the sports programme ‘New York, New York’ with John Jastremski.
The streaming giant’s podcast journey since 2019 has been marked by strategic pivots. It initially pursued platform exclusivity before opening up distribution, including making Joe Rogan’s programme available on YouTube and Apple Podcasts.
Spotify acquired studios Gimlet Media and Parcast, later consolidating them under Spotify Studios amid staff reductions.
While price increases in several markets and cost cuts powered profits in the December quarter, Spotify's revenue growth was at its slowest since its 2018 market listing. Fourth-quarter revenue rose 7% to 4.53 billion euros.
Premium subscribers grew 10% to 290 million in the fourth quarter, versus an estimate of 290.9 million. The company reported monthly active user (MAU) net additions of 38 million, taking the total to 751 million.
Spotify has rolled out a prompted playlist feature, invested in video podcasts (including through a Netflix deal) and expanded beyond audiobooks with physical books to ward off competition from Apple and Amazon's streaming services.
