The company would now take a tailored approach for each show and creator, compared with the uniform approach followed previously, Elhabashi said. Backtracks has developed an open source podcast analytics specification and technology that allows podcasters, advertisers, and apps to get unrivaled podcast analytics. Spotify also said it will merge its Parcast and Gimlet studios into a single Spotify Studios division, which will produce Spotify originals. Sahar Elhabashi, who heads the podcast business, said on Monday that the company has 'made the difficult but necessary decision to make a strategic realignment.' In response, Spotify cut 6% of its workforce earlier in 2023 and announced the departure of Dawn Ostroff, who helped shape its podcast business and guided it through controversies such as the backlash around Joe Rogan's show for allegedly spreading misinformation about COVID-19. Rising interest rates and high inflation mean that businesses have also been dialing back spending on ads.

Spotify had spent aggressively to build up its podcast business in recent years, hoping the higher engagement levels offered by the format will bring in more advertisers.īut that led to a surge in the company's operating expenditure, which grew at twice the speed of its revenue last year. Shares of the Sweden-based company rose about 0.5% in early trading, outperforming a muted broader market. Sign up free-:-Change progress-:-Change volume. Sign up to get unlimited songs and podcasts with occasional ads. Spotify is a digital music service that gives you access to millions of songs. The move affects about 2% of the music-streaming giant's workforce and aligns Spotify with the likes of Meta Platforms (META.O) and Roku (ROKU.O), which have also cut jobs for the second time in response to an uncertain economy. Spotify is a digital music service that gives you access to millions of songs. June 5 (Reuters) - Spotify Technology SA (SPOT.N) said on Monday it would cut 200 jobs from its podcast unit in its second round of layoffs, as the company restructures the business after years of heavy investment.

Spotify podcasts analytics