Audio streaming giant Spotify has reached 239 million paying premium subscribers for the first quarter of 2024, up from 236 million at the fourth quarter of 2023, which met analyst expectations.
Stockholm-headquartered Spotify, led by CEO Daniel Ek, also reported that it hit 615 million monthly active users (MAUs) as of the end of the first quarter to March 31, 2024, up 19 percent from 602 million at the end of the fourth quarter of 2023. That missed on a Wall Street forecast for 617.9 million MAUs for Q1.
In the earnings call, CEO Daniel Ek attributed the Mau slowdown to the comparison to record numbers achieved during 2023, company layoffs in December, which disrupted operations “more than anticipated,” and lower marketing spend, which the company plans to increase going into the second quarter.
In the second quarter, the company is forecasting 631 million monthly active users, an increase of 16 million from the first quarter and 245 million premium subscribers, an increase of six million.
Stockholm-headquartered Spotify, led by CEO Daniel Ek, also reported that it hit 615 million monthly active users (MAUs) as of the end of the first quarter to March 31, 2024, up 19 percent from 602 million at the end of the fourth quarter of 2023. That missed on a Wall Street forecast for 617.9 million MAUs for Q1.
In the earnings call, CEO Daniel Ek attributed the Mau slowdown to the comparison to record numbers achieved during 2023, company layoffs in December, which disrupted operations “more than anticipated,” and lower marketing spend, which the company plans to increase going into the second quarter.
In the second quarter, the company is forecasting 631 million monthly active users, an increase of 16 million from the first quarter and 245 million premium subscribers, an increase of six million.
- 4/23/2024
- by Etan Vlessing and Caitlin Huston
- The Hollywood Reporter - Movie News
Music streaming giant Spotify Technology said Thursday that it has appointed Christian Luiga as its new chief financial officer.
The executive joins Spotify, led by CEO Daniel Ek, from Saab Ab, a European defense and security company, where he served as deputy CEO and CFO. He replaces Paul Vogel. Spotify had in December announced that Vogel would leave the CFO role.
Prior to joining Saab, Luiga also held several key leadership roles, including as CFO and acting CEO and president at European telecommunications company Telia.
He will be based in Sweden and have responsibility for financial planning and analysis, audit and risk, investor relations, accounting, corporate development, tax and treasury, Spotify said. The company added that it currently plans for Luiga to join in the third quarter of 2024.
“Ben Kung, Spotify vice president of financial planning and analysis, who has been a leader on our finance team for several years,...
The executive joins Spotify, led by CEO Daniel Ek, from Saab Ab, a European defense and security company, where he served as deputy CEO and CFO. He replaces Paul Vogel. Spotify had in December announced that Vogel would leave the CFO role.
Prior to joining Saab, Luiga also held several key leadership roles, including as CFO and acting CEO and president at European telecommunications company Telia.
He will be based in Sweden and have responsibility for financial planning and analysis, audit and risk, investor relations, accounting, corporate development, tax and treasury, Spotify said. The company added that it currently plans for Luiga to join in the third quarter of 2024.
“Ben Kung, Spotify vice president of financial planning and analysis, who has been a leader on our finance team for several years,...
- 4/4/2024
- by Georg Szalai
- The Hollywood Reporter - Movie News
As its public dispute with TikTok continues, Universal Music Group has set an expanded strategic relationship with Spotify.
The new agreement will “further amplify music discovery and social interaction and enhance fan experiences,” the companies said in a joint announcement.
Under the deal, Spotify will deploy new promotional and social features aimed at helping drive interest in new releases. Universal artists will be able to share teasers of upcoming music on Spotify to increase consumer awareness. Spotify is also gaining the right to distribute music videos in the U.S.
Universal Music pulled its songs from TikTok earlier this year, citing financial terms and concerns about inadequate restrictions on artificial intelligence tools. The catalog of 4 million songs includes tracks from Taylor Swift, Bad Bunny, Adele and many others.
Separately, TikTok has been under increased scrutiny in recent weeks due to ongoing concerns about China’s role in overseeing the platform.
The new agreement will “further amplify music discovery and social interaction and enhance fan experiences,” the companies said in a joint announcement.
Under the deal, Spotify will deploy new promotional and social features aimed at helping drive interest in new releases. Universal artists will be able to share teasers of upcoming music on Spotify to increase consumer awareness. Spotify is also gaining the right to distribute music videos in the U.S.
Universal Music pulled its songs from TikTok earlier this year, citing financial terms and concerns about inadequate restrictions on artificial intelligence tools. The catalog of 4 million songs includes tracks from Taylor Swift, Bad Bunny, Adele and many others.
Separately, TikTok has been under increased scrutiny in recent weeks due to ongoing concerns about China’s role in overseeing the platform.
- 3/28/2024
- by Dade Hayes
- Deadline Film + TV
Universal Music Group has expanded its relationship with Spotify to involve more promotional tools for musicians and greater distribution, amid its dispute with TikTok.
As part of the partnership, Spotify will release new promotional and social features for Umg artists, starting with the ability to share teasers of upcoming songs on the platform. Under a new agreement with Universal Music Publishing Group, Spotify will be able to distribute music videos in the U.S.
The new partnership comes after Umg pulled its song catalog from TikTok, which can be a big promotional tool for artists, at the end of January, after failing to come to terms on a new licensing agreement with the social media platform. Umg said it was concerned about “appropriate compensation” for artists and songwriters, the spread of AI on the platform and online safety for TikTok users. TikTok has argued that Umg is putting “its own...
As part of the partnership, Spotify will release new promotional and social features for Umg artists, starting with the ability to share teasers of upcoming songs on the platform. Under a new agreement with Universal Music Publishing Group, Spotify will be able to distribute music videos in the U.S.
The new partnership comes after Umg pulled its song catalog from TikTok, which can be a big promotional tool for artists, at the end of January, after failing to come to terms on a new licensing agreement with the social media platform. Umg said it was concerned about “appropriate compensation” for artists and songwriters, the spread of AI on the platform and online safety for TikTok users. TikTok has argued that Umg is putting “its own...
- 3/28/2024
- by Caitlin Huston
- The Hollywood Reporter - Movie News
Updated with Spotify reaction: Spotify said the EU’s move to fine Apple €1.8 billion ($1.95 billion) for breaking antitrust rules in Europe over music streaming “sends a powerful message—no company, not even a monopoly like Apple, can wield power abusively to control how other companies interact with their customers.”
“Today’s decision marks an important moment in the fight for a more open internet for consumers. The European Commission (EC) has made its conclusion clear: Apple’s behaviour limiting communications to consumers is unlawful,” Spotify said in a statement following the expectedly heavy penalty levied on the Cupertino, California tech giant.
Apple said it will challenge the decision, claiming there was no evidence consumers had been harmed.
But the EU’s competition watchdog said an investigation found that Apple had broken antitrust rules in Europe as it “bans music streaming app developers from fully informing iOS users about alternative and...
“Today’s decision marks an important moment in the fight for a more open internet for consumers. The European Commission (EC) has made its conclusion clear: Apple’s behaviour limiting communications to consumers is unlawful,” Spotify said in a statement following the expectedly heavy penalty levied on the Cupertino, California tech giant.
Apple said it will challenge the decision, claiming there was no evidence consumers had been harmed.
But the EU’s competition watchdog said an investigation found that Apple had broken antitrust rules in Europe as it “bans music streaming app developers from fully informing iOS users about alternative and...
- 3/4/2024
- by Jesse Whittock
- Deadline Film + TV
Audio streaming giant Spotify posted better-than-expected subscriber gains as part of its fourth-quarter and full-year 2023 earnings report on Tuesday. It also reported a narrowed fourth-quarter operating loss despite charges for layoffs related to its efforts to push toward sustainable profitability, with its bottom line helped by price increases, cost reductions and growth in its advertising business.
And Spotify CEO Daniel Ek on a morning call told investors to expect more cost-cutting in 2024 as the music streaming platform continued to pursue a more disciplined approach to future growth and profitability.
The company ended 2023 with 236 million paying premium subscribers, up from 226 million as of the end of September and compared with its forecast that it would reach 235 million in the latest period. “Fourth-quarter net additions of 10 million contributed to a record full year of net additions of 31 million,” the firm highlighted.
Stockholm-headquartered Spotify also reported that it hit 602 million monthly active users...
And Spotify CEO Daniel Ek on a morning call told investors to expect more cost-cutting in 2024 as the music streaming platform continued to pursue a more disciplined approach to future growth and profitability.
The company ended 2023 with 236 million paying premium subscribers, up from 226 million as of the end of September and compared with its forecast that it would reach 235 million in the latest period. “Fourth-quarter net additions of 10 million contributed to a record full year of net additions of 31 million,” the firm highlighted.
Stockholm-headquartered Spotify also reported that it hit 602 million monthly active users...
- 2/6/2024
- by Georg Szalai
- The Hollywood Reporter - Movie News
Joe Rogan has struck a new multiyear deal with Spotify, but will no longer see his podcast distributed exclusively by the platform.
As part of the deal for The Joe Rogan Experience, which had been the top podcast of the year globally at Spotify for the past four years, the show will soon be distributed across several podcast platforms, as well as on YouTube, rather than remaining exclusive to Spotify, as it has been for the past several years. In addition to distribution, Spotify will also handle ad sales for the podcast.
Rogan’s podcast was one of the last major titles that remained exclusive to Spotify for distribution, as the platform moves away from exclusivity in favor of ad-sharing deals and broader distribution.
Earlier this week, Spotify also ceded exclusivity of Alex Cooper’s Call Her Daddy podcast, another chart-topping title, while retaining exclusivity to the video form of the podcast.
As part of the deal for The Joe Rogan Experience, which had been the top podcast of the year globally at Spotify for the past four years, the show will soon be distributed across several podcast platforms, as well as on YouTube, rather than remaining exclusive to Spotify, as it has been for the past several years. In addition to distribution, Spotify will also handle ad sales for the podcast.
Rogan’s podcast was one of the last major titles that remained exclusive to Spotify for distribution, as the platform moves away from exclusivity in favor of ad-sharing deals and broader distribution.
Earlier this week, Spotify also ceded exclusivity of Alex Cooper’s Call Her Daddy podcast, another chart-topping title, while retaining exclusivity to the video form of the podcast.
- 2/2/2024
- by Caitlin Huston
- The Hollywood Reporter - Movie News
Call Her Daddy, Alex Cooper’s podcast about relationships, sex and more, has long been one of Spotify’s most popular offerings. It ranked No. 2 on the service’s end-of-year Top Podcasts list in 2023, behind only Joe Rogan. And now the show is set to reach an even wider audience.
Starting with today’s episode, Call Her Daddy, which has been airing exclusively on Spotify since July 2021, will also be available on platforms such as Apple Podcasts. Chd’s back catalog audio is also now available on a wide range of platforms. Video of the show (see today’s teaser below) remains exclusive to Spotify.
Hailed by Time Magazine as “arguably the most successful woman in podcasting,” Chd now sees millions of listeners per episode, making Cooper one of the most listened-to female podcasters in the world.
The show is key to Spotify’s strategy, with CEO Daniel Ek touting...
Starting with today’s episode, Call Her Daddy, which has been airing exclusively on Spotify since July 2021, will also be available on platforms such as Apple Podcasts. Chd’s back catalog audio is also now available on a wide range of platforms. Video of the show (see today’s teaser below) remains exclusive to Spotify.
Hailed by Time Magazine as “arguably the most successful woman in podcasting,” Chd now sees millions of listeners per episode, making Cooper one of the most listened-to female podcasters in the world.
The show is key to Spotify’s strategy, with CEO Daniel Ek touting...
- 1/31/2024
- by Tom Tapp
- Deadline Film + TV
Ye, the rapper formerly known as Kanye West, has issued a statement in Hebrew on his Instagram expressing regret over his antisemitic comments over the past year.
That includes recent statements allegedly made in Las Vegas earlier this month, and caught by live streamers in attendance, invoking Hitler and Jesus Christ alongside himself, and addressing his loss of brand sponsorships and partnerships during a Vultures album event, as reported by Rolling Stone.
Set to release on Jan. 12, the album’s title track, which features Ty Dolla $ign, Lil Durk and Bump J, seemingly addresses previous criticism of Ye, with the rapper stating, “How I’m antisemitic? I just fucked a Jewish bitch.”
Ye, who deleted all his previous Instagram posts leaving only his recent apology, wrote on Tuesday that he regretted his “unplanned outburst,” seemingly alluding to the Vegas event, as translated by The Jerusalem Post.
“I sincerely apologize to...
That includes recent statements allegedly made in Las Vegas earlier this month, and caught by live streamers in attendance, invoking Hitler and Jesus Christ alongside himself, and addressing his loss of brand sponsorships and partnerships during a Vultures album event, as reported by Rolling Stone.
Set to release on Jan. 12, the album’s title track, which features Ty Dolla $ign, Lil Durk and Bump J, seemingly addresses previous criticism of Ye, with the rapper stating, “How I’m antisemitic? I just fucked a Jewish bitch.”
Ye, who deleted all his previous Instagram posts leaving only his recent apology, wrote on Tuesday that he regretted his “unplanned outburst,” seemingly alluding to the Vegas event, as translated by The Jerusalem Post.
“I sincerely apologize to...
- 12/26/2023
- by Abbey White
- The Hollywood Reporter - Movie News
Twisted Sister singer Dee Snider used some extreme language in a recent rant about Spotify CEO Daniel Ek, saying the executive of the streaming platform “should be taken out and shot” for unfairly compensating artists.
Spotify has come under fire in recent years for multiple reasons, including the platform’s profit-sharing breakdown and decision to host controversial content such as right-wing pundit Joe Rogan’s podcast (which led Neil Young to remove his music from the service). Dee’s beef stems more from the former grievance, with the hard-rock vet tearing into Ek in a new interview with the YouTube podcast The Jeremy White Show.
“That guy from Spotify, I wanna tell you, he should be taken out and shot,” Snider said *as transcribed by Blabbermouth]), ostensibly referring to Ek. “When he heard that artists were complaining about how little we get paid, his response was ‘make more music’ — like...
Spotify has come under fire in recent years for multiple reasons, including the platform’s profit-sharing breakdown and decision to host controversial content such as right-wing pundit Joe Rogan’s podcast (which led Neil Young to remove his music from the service). Dee’s beef stems more from the former grievance, with the hard-rock vet tearing into Ek in a new interview with the YouTube podcast The Jeremy White Show.
“That guy from Spotify, I wanna tell you, he should be taken out and shot,” Snider said *as transcribed by Blabbermouth]), ostensibly referring to Ek. “When he heard that artists were complaining about how little we get paid, his response was ‘make more music’ — like...
- 12/21/2023
- by Jon Hadusek
- Consequence - Music
If you’ve turned on a television in 2023, there’s a good chance you’ve encountered a male tech billionaire with a penchant for breaking the rules. On “Succession,” there was Lukas Matsson (Alexander Skarsgård), the Swedish maverick who rendered the titular question moot by swallowing Waystar Royco whole. “The Morning Show” featured Paul Marks (Jon Hamm), the aerospace magnate who flirted with both Jennifer Aniston’s Alex Levy and acquiring her employer. FX’s “A Murder at the End of the World” included Andy Ronson (Clive Owen), the mysterious genius whose Icelandic retreat takes a deadly turn.
All these characters are composites, with elements of multiple real-life oligarchs with an outsized influence on world affairs. Matsson has shades of Daniel Ek, Scandinavia’s most famous entrepreneur and the fellow proprietor of a streaming service; Marks using a morning show to promote his privately run rocket launch directly invokes Michael Strahan...
All these characters are composites, with elements of multiple real-life oligarchs with an outsized influence on world affairs. Matsson has shades of Daniel Ek, Scandinavia’s most famous entrepreneur and the fellow proprietor of a streaming service; Marks using a morning show to promote his privately run rocket launch directly invokes Michael Strahan...
- 12/12/2023
- by Alison Herman
- Variety Film + TV
Spotify’s Chief Financial Officer Paul Vogel is stepping down, the company said on Thursday — the news arrives three days after the streaming service announced plans to layoff off 17 percent of its global workforce.
Vogel joined Spotify in 2016 and was appointed Spotify’s CFO in 2020. He’ll remain at the streaming platform until March 31, 2024.
The shakeup at the company this week comes as Spotify looks to rein in its spending and improve its profit margins. While Spotify is the largest music streaming service in the world and has grown its...
Vogel joined Spotify in 2016 and was appointed Spotify’s CFO in 2020. He’ll remain at the streaming platform until March 31, 2024.
The shakeup at the company this week comes as Spotify looks to rein in its spending and improve its profit margins. While Spotify is the largest music streaming service in the world and has grown its...
- 12/7/2023
- by Ethan Millman
- Rollingstone.com
Spotify said chief financial officer Paul Vogel will be leaving at the end of March. The news comes several days after the music streamer announced about 1,500 layoffs, some 17% of its workforce.
The company has launched an external search for his successor but in the interim, Ben Kung, VP Financial Planning and Analysis, will take on expanded responsibilities to support the company’s realignment of its financial leadership team.
Vogel joined in 2016 and has been CFO since 2020.
“Spotify has embarked on an evolution over the last two years to bring our spending more in line with market expectations while also funding the significant growth opportunities we continue to identify,” said founder and CEO Daniel Ek. “I’ve talked a lot with Paul about the need to balance these two objectives carefully. Over time, we’ve come to the conclusion that Spotify is entering a new phase and needs a CFO with a different mix of experiences.
The company has launched an external search for his successor but in the interim, Ben Kung, VP Financial Planning and Analysis, will take on expanded responsibilities to support the company’s realignment of its financial leadership team.
Vogel joined in 2016 and has been CFO since 2020.
“Spotify has embarked on an evolution over the last two years to bring our spending more in line with market expectations while also funding the significant growth opportunities we continue to identify,” said founder and CEO Daniel Ek. “I’ve talked a lot with Paul about the need to balance these two objectives carefully. Over time, we’ve come to the conclusion that Spotify is entering a new phase and needs a CFO with a different mix of experiences.
- 12/7/2023
- by Jill Goldsmith
- Deadline Film + TV
Spotify’s global workforce will face a 17 percent reduction as the company chases profitability. On Monday, CEO Daniel Ek issued an internal memo to staff announcing the impending layoffs, the company’s third and biggest round this year. “I recognize this will impact a number of individuals who have made valuable contributions,” Ek wrote in the memo, which was later published through Spotify’s newsroom landing page. “To be blunt, many smart, talented and hard-working people will be departing us.”
According to Financial Times, Spotify currently employs around 9,000 people, meaning...
According to Financial Times, Spotify currently employs around 9,000 people, meaning...
- 12/4/2023
- by Larisha Paul
- Rollingstone.com
Music streaming service Spotify will cut about 17% of its global workforce, becoming the latest big tech company to feel the bite of the economy.
The figure represents around 1,500 of the Sweden-based streamer’s 9,000 staff, as is the result of economic growth slowing “dramatically,” according to Spotify CEO Daniel Ek. Back in January, Spotify said it would cut staff by 6% and announced a hiring slowdown in October, but this move to reduce costs goes much deeper.
However, Ek claimed today’s decision was “not a step back” but “a strategic reorientation.” The New York Stock Exchange-listed company expects to incur costs of €130M-145M ($141M-$158M) in charges in the fourth fiscal quarter of 2023, mainly relating to severance payments and reduction in real estate assets.
Ek is not the first chief exec of his kind to choose deep cuts in recent times. Alphabet, Amazon, Microsoft, Meta, X and Roku have all...
The figure represents around 1,500 of the Sweden-based streamer’s 9,000 staff, as is the result of economic growth slowing “dramatically,” according to Spotify CEO Daniel Ek. Back in January, Spotify said it would cut staff by 6% and announced a hiring slowdown in October, but this move to reduce costs goes much deeper.
However, Ek claimed today’s decision was “not a step back” but “a strategic reorientation.” The New York Stock Exchange-listed company expects to incur costs of €130M-145M ($141M-$158M) in charges in the fourth fiscal quarter of 2023, mainly relating to severance payments and reduction in real estate assets.
Ek is not the first chief exec of his kind to choose deep cuts in recent times. Alphabet, Amazon, Microsoft, Meta, X and Roku have all...
- 12/4/2023
- by Jesse Whittock
- Deadline Film + TV
Music streaming giant Spotify is making another round of job cuts, slashing 17 percent of its global workforce as the company continues its strategy to become “both productive and efficient.”
In a blog post published Monday, founder and CEO Daniel Ek wrote that the new layoffs would “reduce our total head count by approximately [17 percent] across the company.” The Stockholm-based company says approximately 1,500 jobs will be impacted by the cuts.
The cuts come after the company decimated the head count at its podcast division, with layoffs in January (600 laid off) and June this year (200 laid off) that followed cuts in October 2022. The cost-cutting has also hit programming, including ending its exclusive podcasting deal with Prince Harry and Meghan Markle in June. Spotify also merged podcasting studios Parcast and Gimlet into a single division after canceling 10 shows from the two companies.
The most recent cuts come as the company has been stepping up its focus on profitability.
In a blog post published Monday, founder and CEO Daniel Ek wrote that the new layoffs would “reduce our total head count by approximately [17 percent] across the company.” The Stockholm-based company says approximately 1,500 jobs will be impacted by the cuts.
The cuts come after the company decimated the head count at its podcast division, with layoffs in January (600 laid off) and June this year (200 laid off) that followed cuts in October 2022. The cost-cutting has also hit programming, including ending its exclusive podcasting deal with Prince Harry and Meghan Markle in June. Spotify also merged podcasting studios Parcast and Gimlet into a single division after canceling 10 shows from the two companies.
The most recent cuts come as the company has been stepping up its focus on profitability.
- 12/4/2023
- by Abid Rahman
- The Hollywood Reporter - Movie News
The 2023 Spotify Wrapped officially dropped on Wednesday, November 29th. Even if you haven’t had a chance to parse through your friends’ Instagram stories yet, you already know the deal: Folks whining that their carefully-curated “eclectic” tastes aren’t accurately represented, Swifties bowing to the feigned exclusivity of being in Taylor’s top 0.01% of fans, and — wait, why the hell is everybody talking about Burlington, Vermont?
In rolling out its eighth annual iteration, Spotify Wrapped introduced something new: Your “Sound Town,” or, the city Spotify’s artificial intelligence assigns you based on your listening habits and which demographic would hypothetically align with them. You thought you were primed for Brooklyn just because you enjoy bands signed to Saddle Creek? Nope — on Spotify’s terms, you and your canvas tote bags should pack up and head for Vermont’s most populous city. (Consider this writer humbled.)
spotify is trying to...
In rolling out its eighth annual iteration, Spotify Wrapped introduced something new: Your “Sound Town,” or, the city Spotify’s artificial intelligence assigns you based on your listening habits and which demographic would hypothetically align with them. You thought you were primed for Brooklyn just because you enjoy bands signed to Saddle Creek? Nope — on Spotify’s terms, you and your canvas tote bags should pack up and head for Vermont’s most populous city. (Consider this writer humbled.)
spotify is trying to...
- 11/29/2023
- by Abby Jones
- Consequence - Music
This post contains spoilers for "Scott Pilgrim Takes Off."
"Scott Pilgrim Takes Off" is full of surprises. The new Netflix anime "reboot" of the familiar franchise, which features characters from Bryan Lee O'Malley's comics (O'Malley co-created the show) and voice actors from Edgar Wright's movies, takes a narrative left turn right out of the gate. Instead of winning his fight against Ramona's first evil ex Matthew Patel (Satya Bhabha), Scott (Michael Cera) loses, seemingly dying and staying dead for the majority of the season.
That isn't the only major twist in the increasingly meta series, though. Fans also get a time-traveling older Scott (Will Forte), several unlikely romantic couplings, an arc featuring a filmmaker named Edgar Wrong, and redemption stories for several major villains. In general, "Scott Pilgrim Takes Off" seems to take the road less traveled by O'Malley's first version of the story, reimagining its bad...
"Scott Pilgrim Takes Off" is full of surprises. The new Netflix anime "reboot" of the familiar franchise, which features characters from Bryan Lee O'Malley's comics (O'Malley co-created the show) and voice actors from Edgar Wright's movies, takes a narrative left turn right out of the gate. Instead of winning his fight against Ramona's first evil ex Matthew Patel (Satya Bhabha), Scott (Michael Cera) loses, seemingly dying and staying dead for the majority of the season.
That isn't the only major twist in the increasingly meta series, though. Fans also get a time-traveling older Scott (Will Forte), several unlikely romantic couplings, an arc featuring a filmmaker named Edgar Wrong, and redemption stories for several major villains. In general, "Scott Pilgrim Takes Off" seems to take the road less traveled by O'Malley's first version of the story, reimagining its bad...
- 11/18/2023
- by Valerie Ettenhofer
- Slash Film
Updated with U.S. debut. Spotify, which last month launched audiobooks in the UK and Australia as part of its offerings for Premium subscribers, has expanded the new business to the U.S.
U.S. subscribers will now have access to 200,000 audiobook titles, the company announced Wednesday. At launch, 15 hours of listening will be included at no extra charge, with 10-hour “top-ups” available for purchase.
The move gives subscribers book options alongside 100 million music tracks and 5 million podcasts, the company said.
Previously:
Spotify is making a major push into the audiobook sector, adding more than 150,000 titles to its existing Premium subscription plans.
The streaming company announced details at an event at its New York headquarters today headlined by CEO Daniel Ek. The UK and Australia are the initial territories with audiobooks, and other parts of the world will soon follow, including the U.S. this winter.
“This is a big...
U.S. subscribers will now have access to 200,000 audiobook titles, the company announced Wednesday. At launch, 15 hours of listening will be included at no extra charge, with 10-hour “top-ups” available for purchase.
The move gives subscribers book options alongside 100 million music tracks and 5 million podcasts, the company said.
Previously:
Spotify is making a major push into the audiobook sector, adding more than 150,000 titles to its existing Premium subscription plans.
The streaming company announced details at an event at its New York headquarters today headlined by CEO Daniel Ek. The UK and Australia are the initial territories with audiobooks, and other parts of the world will soon follow, including the U.S. this winter.
“This is a big...
- 11/8/2023
- by Dade Hayes
- Deadline Film + TV
Spotify gave an early peek at its two-week-old Audiobook rollout with chief executive Daniel Ek telling investors, “It’s early days, but we feel good.”
“We just believe it is going to be a great product that will open up more authors to more consumers. And what we have seen is that when we enter a business, it gets bigger,” he said on a call after strong third quarter financials that included a swing to profitability as users weathered price hikes pretty well and despite investment in the audiobook launch. CFO Paul Vogel called the quarter an “inflection point” for the company which now expects to be consistently profitable. The stock is up 10% today.
Audiobooks on Spotify, announced early this month, has launched in a few markets including the UK and will roll out to the U.S. this winter. Premium subscribers get 15 hours free a month and can top...
“We just believe it is going to be a great product that will open up more authors to more consumers. And what we have seen is that when we enter a business, it gets bigger,” he said on a call after strong third quarter financials that included a swing to profitability as users weathered price hikes pretty well and despite investment in the audiobook launch. CFO Paul Vogel called the quarter an “inflection point” for the company which now expects to be consistently profitable. The stock is up 10% today.
Audiobooks on Spotify, announced early this month, has launched in a few markets including the UK and will roll out to the U.S. this winter. Premium subscribers get 15 hours free a month and can top...
- 10/24/2023
- by Jill Goldsmith
- Deadline Film + TV
Audio streaming giant Spotify reported better-than-expected third-quarter subscriber gains and a surprise operating profit.
The company ended September with 226 million paying premium subscribers, up from 220 million as of the end of June, exceeding its forecast that it would reach 224 million in the latest period.
Stockholm-headquartered Spotify, led by CEO Daniel Ek, also reported that it hit 574 million monthly active users (MAUs) as of the end of the third quarter, up from 551 million at the end of the second quarter. The company had previously estimated it would end the latest period with 572 million MAUs.
“We walked into 2023 thinking we would do just over 20 million in net subscriber ads for the full year, but we’re actually on track to deliver 30 million, which is a significant beat from where we thought we would be. In fact, this will be the second biggest full year gain in net subs additions since going public,...
The company ended September with 226 million paying premium subscribers, up from 220 million as of the end of June, exceeding its forecast that it would reach 224 million in the latest period.
Stockholm-headquartered Spotify, led by CEO Daniel Ek, also reported that it hit 574 million monthly active users (MAUs) as of the end of the third quarter, up from 551 million at the end of the second quarter. The company had previously estimated it would end the latest period with 572 million MAUs.
“We walked into 2023 thinking we would do just over 20 million in net subscriber ads for the full year, but we’re actually on track to deliver 30 million, which is a significant beat from where we thought we would be. In fact, this will be the second biggest full year gain in net subs additions since going public,...
- 10/24/2023
- by Georg Szalai and Caitlin Huston
- The Hollywood Reporter - Movie News
When Prince Harry and his wife, Meghan Markle stepped down from their roles within the royal family and moved across the pond, the couple signed a handful of lucrative deals, and one was with Spotify. The streaming giant waited nearly two years for the Sussexes to produce content. Finally, in August 2022 the Duchess of Sussex launched her podcast titled Archetypes.
After a promising start, Meghan’s podcast could not maintain a top position and dropped to No. 22 by November. In June, the company decided not to renew Archetypes and terminated its deal with the duke and duchess. Now, Spotify’s boss is giving insight into why the streaming platform decided to cancel the former Suits star‘s podcast.
Meghan Markle seen at the sitting volleyball during Invictus Games | Karwai Tang/WireImage Prince Harry’s wild interview prospects, and Sussexes being labeled as ‘f****** grifters’
A source previously told Us Weekly...
After a promising start, Meghan’s podcast could not maintain a top position and dropped to No. 22 by November. In June, the company decided not to renew Archetypes and terminated its deal with the duke and duchess. Now, Spotify’s boss is giving insight into why the streaming platform decided to cancel the former Suits star‘s podcast.
Meghan Markle seen at the sitting volleyball during Invictus Games | Karwai Tang/WireImage Prince Harry’s wild interview prospects, and Sussexes being labeled as ‘f****** grifters’
A source previously told Us Weekly...
- 10/6/2023
- by Michelle Kapusta
- Showbiz Cheat Sheet
Spotify chose to cancel Meghan Markle’s “Archetypes” podcast after just one season, and the company’s CEO is now hinting at the reason.
Speaking with BBC News, Spotify CEO Daniel Ek discussed the companies struggles in podcasting, which included severing the $25 million deal with the Duke and Duchess of Sussex.
“The truth of the matter is some of it has worked, some of it hasn’t,” Elk said. “We’re learning from those and we are moving on,” he added, as reported by Page Six.
Read More: Meghan Markle ‘Was Not A Great Audio Talent’ Says UTA CEO Following ‘Archetypes’ Podcast Cancellation
Clearly, “Archetypes” was one that didn’t work, and he explained of his vision as Spotify becoming a platform for podcasters.
“We thought we can come in and offer a great experience that both makes consumers very happy and allows new creators new avenues.”
Without mentioning the Sussexes by name,...
Speaking with BBC News, Spotify CEO Daniel Ek discussed the companies struggles in podcasting, which included severing the $25 million deal with the Duke and Duchess of Sussex.
“The truth of the matter is some of it has worked, some of it hasn’t,” Elk said. “We’re learning from those and we are moving on,” he added, as reported by Page Six.
Read More: Meghan Markle ‘Was Not A Great Audio Talent’ Says UTA CEO Following ‘Archetypes’ Podcast Cancellation
Clearly, “Archetypes” was one that didn’t work, and he explained of his vision as Spotify becoming a platform for podcasters.
“We thought we can come in and offer a great experience that both makes consumers very happy and allows new creators new avenues.”
Without mentioning the Sussexes by name,...
- 10/5/2023
- by Etcanadadigital
- ET Canada
What does Spotify’s big push into audiobooks with a new offering giving paid subscribers 15 hours of free listening per month mean for the music streamer’s business and financials? That was the topic of Wall Street debate following the company’s unveiling of its plan that was rolled out in the U.K. and Australia on Tuesday, with other markets, including the U.S., expected to follow this winter.
Rather than having to buy audiobooks à la carte, premium subscribers will now be able to listen to more than 150,000 audiobooks from all the major publishers up to a limit of 15 hours each month. After that, subscribers can opt to add on 10 more hours or purchase the book. “I’m so excited to bring some of the same tools that have helped the music industry and podcast industry as well now to the audiobook industry,” Spotify CEO Daniel Ek said...
Rather than having to buy audiobooks à la carte, premium subscribers will now be able to listen to more than 150,000 audiobooks from all the major publishers up to a limit of 15 hours each month. After that, subscribers can opt to add on 10 more hours or purchase the book. “I’m so excited to bring some of the same tools that have helped the music industry and podcast industry as well now to the audiobook industry,” Spotify CEO Daniel Ek said...
- 10/4/2023
- by Georg Szalai
- The Hollywood Reporter - Movie News
Spotify is broadening its audiobooks offering by giving all paid subscribers 15 hours of listening per month.
Rather than purchase audiobooks à la carte, premium subscribers will be able to open the app and opt to listen to more than 150,000 audiobooks from all the major publishers that will be offered as part of the Spotify subscription.
The offering will be rolled out to the U.K. and Australia on Tuesday, with other markets, including the U.S., expected to launch this winter. As of its latest earnings, Spotify has more than 220 million paid subscribers.
If a subscriber hits the limit of 15 hours of listening per month, they can opt to add on 10 more hours or purchase the book. The company will also use its existing personalization tools to suggest books to users, starting by asking users about favorite books. This method, as well as its prominent placement on the home feed and social media sharing tools,...
Rather than purchase audiobooks à la carte, premium subscribers will be able to open the app and opt to listen to more than 150,000 audiobooks from all the major publishers that will be offered as part of the Spotify subscription.
The offering will be rolled out to the U.K. and Australia on Tuesday, with other markets, including the U.S., expected to launch this winter. As of its latest earnings, Spotify has more than 220 million paid subscribers.
If a subscriber hits the limit of 15 hours of listening per month, they can opt to add on 10 more hours or purchase the book. The company will also use its existing personalization tools to suggest books to users, starting by asking users about favorite books. This method, as well as its prominent placement on the home feed and social media sharing tools,...
- 10/3/2023
- by Caitlin Huston
- The Hollywood Reporter - Movie News
In this latest episode of The Diary of a CEO, Steven welcomes Daniel Ek, the co-founder and CEO of Spotify, who has come a long way from his humble beginnings in the Swedish projects. Daniel shares his personal journey from a single-parent household, where his mother played a pivotal role in shaping his success. Overcoming his introverted nature and not quite fitting in during his formative years, Daniel discovered that his uniqueness would ultimately contribute to his future success.
https://www.youtube.com/watch?v=w_35cUaU_NA
"I'm an introvert. Not amazing, academically - didn't feel like I belonged anywhere. Average at best. [...] I flunked high school, then started my first company and that later got acquired."
At the age of 14, he took his first entrepreneurial steps, starting his own company while still in school, demonstrating his early determination to forge his path. He emphasizes the importance of embracing...
https://www.youtube.com/watch?v=w_35cUaU_NA
"I'm an introvert. Not amazing, academically - didn't feel like I belonged anywhere. Average at best. [...] I flunked high school, then started my first company and that later got acquired."
At the age of 14, he took his first entrepreneurial steps, starting his own company while still in school, demonstrating his early determination to forge his path. He emphasizes the importance of embracing...
- 9/28/2023
- Podnews.net
Spotify’s CFO touted the success of AI DJ, the company’s artificial intelligence-driven personalized guide, during an investor conference on Wednesday and highlighted management’s continued belief in more upside in the podcasting business, while emphasizing an “evolution” in its approach to it.
Calling it one of the company’s most successful service launches, Paul Vogel said during an appearance at the Goldman Sachs Communacopia + Technology Conference in San Francisco, that AI DJ was already available in 50 countries and has been “really well received.”
He added: “Reviews have been amazing, and it’s something that’s very differentiated, that consumers love, that the artists love because it’s getting the content out there, and so we’re going to continue to invest in those types of things.”
Pointing out user growth in newer, more developing markets as well as more mature markets, Vogel touted Spotify’s mix of free and paid-for offerings.
Calling it one of the company’s most successful service launches, Paul Vogel said during an appearance at the Goldman Sachs Communacopia + Technology Conference in San Francisco, that AI DJ was already available in 50 countries and has been “really well received.”
He added: “Reviews have been amazing, and it’s something that’s very differentiated, that consumers love, that the artists love because it’s getting the content out there, and so we’re going to continue to invest in those types of things.”
Pointing out user growth in newer, more developing markets as well as more mature markets, Vogel touted Spotify’s mix of free and paid-for offerings.
- 9/6/2023
- by Georg Szalai
- The Hollywood Reporter - Movie News
Warner Music Group CEO Robert Kyncl on Wednesday emphasized the need for music streaming services and their partners to not just “hunt” for subscribers but also “harvest” sub relationships, for example by driving revenue per average user in more mature markets higher. To do so, he told an investor conference that music streaming players should take a playbook from the Netflix playbook.
“Focusing on revenue per user is a very, very important part of what the industry needs to do,” the former YouTube and Netflix top executive said in an appearance at the Goldman Sachs Communacopia + Technology Conference in San Francisco, which was webcast. “Taking a page out of Netflix’s playbook is a smart thing for all of us to do. You’ve seen price innovation from $20 to $22 to $20, $19, $18, $17, all the way down to $8, then back to $9, $10. And then from $10 to $7, $15 and $20. So the amount of work and innovation...
“Focusing on revenue per user is a very, very important part of what the industry needs to do,” the former YouTube and Netflix top executive said in an appearance at the Goldman Sachs Communacopia + Technology Conference in San Francisco, which was webcast. “Taking a page out of Netflix’s playbook is a smart thing for all of us to do. You’ve seen price innovation from $20 to $22 to $20, $19, $18, $17, all the way down to $8, then back to $9, $10. And then from $10 to $7, $15 and $20. So the amount of work and innovation...
- 9/6/2023
- by Georg Szalai
- The Hollywood Reporter - Movie News
Alex Cooper is establishing “a platform for this generation’s unique voices that embrace social challenges and personal insecurities through honest conversation.” That’s the official description of The Unwell Network, a venture that will unite the host of the Call Her Daddy podcast with TikTok stars like Alix Earle and Madeline Argy.
Cooper is launching The Unwell Network as a subsidiary of her other Gen Z-focused media company. In June, the Call Her Daddy host teamed up with her fiancé Matt Kaplan (who is the CEO of Ace Entertainment) to launch Trending, a producer of scripted and unscripted content that will also extend into merchanding, podcasting, and live events. That banner is now the parent company of both Call Her Daddy and Ace Entertainment.
The Unwell Network will also factor into the future of Call Her Daddy. It will become the producer of Cooper’s flagship podcast, which provides...
Cooper is launching The Unwell Network as a subsidiary of her other Gen Z-focused media company. In June, the Call Her Daddy host teamed up with her fiancé Matt Kaplan (who is the CEO of Ace Entertainment) to launch Trending, a producer of scripted and unscripted content that will also extend into merchanding, podcasting, and live events. That banner is now the parent company of both Call Her Daddy and Ace Entertainment.
The Unwell Network will also factor into the future of Call Her Daddy. It will become the producer of Cooper’s flagship podcast, which provides...
- 8/8/2023
- by Sam Gutelle
- Tubefilter.com
Spotify had its best quarter ever for new additions but revenue fell short of expectations and the music streamer booked a wider loss on severance and other business charges for the three months ended in June.
Shares of the global platform, headquartered in Sweden, are down more than 12%. The latest financials follow news yesterday of price increases.
CEO Daniel Ek and CFO Paul Vogel on a post-earnings call today the full impact of the hikes won’t be evident in numbers until the fourth quarter. The company is raising the price of its premium subscriptions, bringing the audio streaming service in line with top competitors. Individual subscriptions will be $10.99 a month, up from the $9.99 level where they started in 2011. Premium Duo will be $14.99 (up $2), while Premium Family will be $16.99 and Premium Student will be $5.99, both up a dollar. “We felt the timing was right,” said Ek today. “We have expanded...
Shares of the global platform, headquartered in Sweden, are down more than 12%. The latest financials follow news yesterday of price increases.
CEO Daniel Ek and CFO Paul Vogel on a post-earnings call today the full impact of the hikes won’t be evident in numbers until the fourth quarter. The company is raising the price of its premium subscriptions, bringing the audio streaming service in line with top competitors. Individual subscriptions will be $10.99 a month, up from the $9.99 level where they started in 2011. Premium Duo will be $14.99 (up $2), while Premium Family will be $16.99 and Premium Student will be $5.99, both up a dollar. “We felt the timing was right,” said Ek today. “We have expanded...
- 7/25/2023
- by Jill Goldsmith
- Deadline Film + TV
San Francisco, July 25 (Ians) Music streaming giant Spotify on Tuesday announced that the platform now has 220 million Premium subscribers and 551 million monthly active users, as of June 30.
The company, in its Q2 earnings report ,said that the monthly active users surged 27 per cent to 551 million, and Premium subscribers grew 17 per cent (year-on-year) to 220 million.
Spotify CEO Daniel Ek also shared the figures on Twitter, thanking the team for their efforts.
“Thanks to the Spotify team for another strong quarter and for powering our remarkable growth: 118M Mau and 32M subs over the last twelve months. Encouraging to see this progress against what we laid out in June 2022 at Investor Day,” he said.
The second quarter earnings report comes less than 24 hours after Spotify announced to increase its prices in the US and several other markets worldwide, similar to price increases seen by other music streaming services, including Apple Music, Amazon Music,...
The company, in its Q2 earnings report ,said that the monthly active users surged 27 per cent to 551 million, and Premium subscribers grew 17 per cent (year-on-year) to 220 million.
Spotify CEO Daniel Ek also shared the figures on Twitter, thanking the team for their efforts.
“Thanks to the Spotify team for another strong quarter and for powering our remarkable growth: 118M Mau and 32M subs over the last twelve months. Encouraging to see this progress against what we laid out in June 2022 at Investor Day,” he said.
The second quarter earnings report comes less than 24 hours after Spotify announced to increase its prices in the US and several other markets worldwide, similar to price increases seen by other music streaming services, including Apple Music, Amazon Music,...
- 7/25/2023
- by Agency News Desk
- GlamSham
Spotify reported 551 million monthly active users in its second quarter, adding 36 million from the previous quarter and hitting an all-time high for the company.
Additionally, the music giant added 10 million paid subscribers, three million above its guidance forecast and a record for the second quarter, to reach 220 million.
Still, operating losses at the company, which has been promising to focus on profitability, grew to reach €247 million (approximately $273 million), missing the company’s guidance of €129 million ($142 million). The number was impacted by “charges related to our actions to streamline operations and reduce costs,” the company said, which includes reducing its real estate footprint and making changes to its podcasting business. These charges had been excluded from Q2 guidance. Excluding these charges, the company reported an operating loss of €112 million ($124).
Gross margins hit 24.1 percent, compared to guidance of 25.5 percent and total operating expenses grew to €1 billion ($1.1 billion), up 13 percent year over year.
Additionally, the music giant added 10 million paid subscribers, three million above its guidance forecast and a record for the second quarter, to reach 220 million.
Still, operating losses at the company, which has been promising to focus on profitability, grew to reach €247 million (approximately $273 million), missing the company’s guidance of €129 million ($142 million). The number was impacted by “charges related to our actions to streamline operations and reduce costs,” the company said, which includes reducing its real estate footprint and making changes to its podcasting business. These charges had been excluded from Q2 guidance. Excluding these charges, the company reported an operating loss of €112 million ($124).
Gross margins hit 24.1 percent, compared to guidance of 25.5 percent and total operating expenses grew to €1 billion ($1.1 billion), up 13 percent year over year.
- 7/25/2023
- by Caitlin Huston
- The Hollywood Reporter - Movie News
Spotify is raising the price of its premium subscriptions, bringing the audio streaming service in line with top competitors.
Under the new pricing structure, which took immediate effect, Premium Individual subscriptions will be $10.99 a month, up from the $9.99 level where they began in 2011. Premium Duo will be $14.99 (up $2), while Premium Family will be $16.99 and Premium Student will be $5.99, both up a dollar.
Similar hikes are in store in the UK and in several dozen other countries. Apple, Amazon, Tidal and YouTube have all increased prices in recent months, and Spotify has made no secret of its intent to follow suit.
“The market landscape has continued to evolve since we launched,” the company said in an announcement. “So that we can keep innovating, we are changing our premium prices across a number of markets around the world. These updates will help us continue to deliver value to fans and artists on our platform.
Under the new pricing structure, which took immediate effect, Premium Individual subscriptions will be $10.99 a month, up from the $9.99 level where they began in 2011. Premium Duo will be $14.99 (up $2), while Premium Family will be $16.99 and Premium Student will be $5.99, both up a dollar.
Similar hikes are in store in the UK and in several dozen other countries. Apple, Amazon, Tidal and YouTube have all increased prices in recent months, and Spotify has made no secret of its intent to follow suit.
“The market landscape has continued to evolve since we launched,” the company said in an announcement. “So that we can keep innovating, we are changing our premium prices across a number of markets around the world. These updates will help us continue to deliver value to fans and artists on our platform.
- 7/24/2023
- by Dade Hayes
- Deadline Film + TV
In its latest attempt to boost revenue and cut losses, Spotify unveiled a widely telegraphed move to raise prices for its premium paying subscriber base.
The new monthly cost for U.S. users will be $10.99, the company said. The hike brings Spotify in line with rivals Apple Music ($10.99 a month) and Amazon Music ($10.99, though cheaper for Prime members), which both raised prices last year. And Spotify’s move arrives days after YouTube Music also raised its price by $1 to $10.99 a month.
The price of Spotify’s Premium Duo plan will go up by $2 to $14.99 per month, while the Family plan and Student plans rise by $1 to $16.99 and $5.99, respectively.
“The market landscape has continued to evolve since we launched. So that we can keep innovating, we are changing our Premium prices across a number of markets around the world,” the company said in a statement. “These updates will help us continue...
The new monthly cost for U.S. users will be $10.99, the company said. The hike brings Spotify in line with rivals Apple Music ($10.99 a month) and Amazon Music ($10.99, though cheaper for Prime members), which both raised prices last year. And Spotify’s move arrives days after YouTube Music also raised its price by $1 to $10.99 a month.
The price of Spotify’s Premium Duo plan will go up by $2 to $14.99 per month, while the Family plan and Student plans rise by $1 to $16.99 and $5.99, respectively.
“The market landscape has continued to evolve since we launched. So that we can keep innovating, we are changing our Premium prices across a number of markets around the world,” the company said in a statement. “These updates will help us continue...
- 7/24/2023
- by Erik Hayden
- The Hollywood Reporter - Movie News
San Francisco, July 23 (Ians) Music streaming giant Spotify is reportedly planning to increase its monthly subscription price by $1 in the US, as part of its effort to become consistently profitable.
The price hike is expected to be announced next week for subscribers in the US, followed by similar increases in “dozens of markets globally in the coming months”, reports Variety.
The news was first reported by The Wall Street Journal.
Since 2011, Spotify hasn’t changed its $9.99-per-month ad-free Premium plan in the US. After the hike, users will need to pay $10.99 per month for the premium service.
Spotify CEO Daniel Ek has previously stated that the company is considering raising prices in the US in response to price rises by competitors such as Apple Music, according to the report.
“When our competitors are raising their prices, that is really good for us,” he said on the company’s third-quarter 2022 earnings call in October.
The price hike is expected to be announced next week for subscribers in the US, followed by similar increases in “dozens of markets globally in the coming months”, reports Variety.
The news was first reported by The Wall Street Journal.
Since 2011, Spotify hasn’t changed its $9.99-per-month ad-free Premium plan in the US. After the hike, users will need to pay $10.99 per month for the premium service.
Spotify CEO Daniel Ek has previously stated that the company is considering raising prices in the US in response to price rises by competitors such as Apple Music, according to the report.
“When our competitors are raising their prices, that is really good for us,” he said on the company’s third-quarter 2022 earnings call in October.
- 7/23/2023
- by Agency News Desk
- GlamSham
The lucrative deal Prince Harry and Meghan Markle inked with Spotify in 2020 is over. Nearly three years and one Archetypes podcast later the Duke and Duchess of Sussex and the platform have opted to “part ways.” Now more than ever, Harry and Meghan need certain “people” around them, according to a commentator.
Spotify executives comment on the end of the Harry and Meghan deal Prince Harry and Meghan Markle | Michael M. Santiago/Getty Images
Archewell and Spotify are no more after the listening platform, as well as Harry and Meghan, confirmed they’d “mutually” decided to “part ways” in a June 15 statement.
In the aftermath, multiple executives from Spotify, both current and former, have spoken out on the dissolution of the partnership that resulted in Meghan’s Archetypes podcast and a one-off 2020 holiday special.
Daniel Ek, Spotify’s CEO, admitted the company’s been “overpaying and overinvesting” and is now...
Spotify executives comment on the end of the Harry and Meghan deal Prince Harry and Meghan Markle | Michael M. Santiago/Getty Images
Archewell and Spotify are no more after the listening platform, as well as Harry and Meghan, confirmed they’d “mutually” decided to “part ways” in a June 15 statement.
In the aftermath, multiple executives from Spotify, both current and former, have spoken out on the dissolution of the partnership that resulted in Meghan’s Archetypes podcast and a one-off 2020 holiday special.
Daniel Ek, Spotify’s CEO, admitted the company’s been “overpaying and overinvesting” and is now...
- 6/22/2023
- by Mandi Kerr
- Showbiz Cheat Sheet
Spotify’s relationship with the Sussexes was, in the end, a mess.
The two parties formally ended their exclusive podcast deal on June 15 in the press after The Wall Street Journal reported that Spotify was not renewing Meghan Markle’s Archetypes show for a second season and the duchess was “continuing to develop more content for the Archetypes audience on another platform, according to a statement shared with the paper that was first attributed to a spokesperson for Archewell Productions before being changed to WME, which signed Markle and Archewell in April.
The Journal story is believed to have ultimately fast-tracked the end of the Spotify-Archewell relationship, which had still been in place prior to the story’s publication but concluded with a carefully worded joint statement released that evening announcing the two parties had “mutually agreed to part ways.” But Spotify’s Bill Simmons, who leads podcast monetization for the audio company,...
The two parties formally ended their exclusive podcast deal on June 15 in the press after The Wall Street Journal reported that Spotify was not renewing Meghan Markle’s Archetypes show for a second season and the duchess was “continuing to develop more content for the Archetypes audience on another platform, according to a statement shared with the paper that was first attributed to a spokesperson for Archewell Productions before being changed to WME, which signed Markle and Archewell in April.
The Journal story is believed to have ultimately fast-tracked the end of the Spotify-Archewell relationship, which had still been in place prior to the story’s publication but concluded with a carefully worded joint statement released that evening announcing the two parties had “mutually agreed to part ways.” But Spotify’s Bill Simmons, who leads podcast monetization for the audio company,...
- 6/20/2023
- by J. Clara Chan
- The Hollywood Reporter - Movie News
Trevor Noah is moving into podcasting.
The former Daily Show host has partnered with Spotify on a weekly podcast that will see him “blend his signature humor and razor-sharp wit with his global perspective to deliver a unique take on the hottest and most captivating topics of the moment.”
Launching later this year, the as-yet-untitled weekly show will include in-depth conversations between Noah and “some of the most influential and interesting figures around the world,” according to Spotify, which has podcast partnerships in place with the likes of Louis Theroux and Alex Cooper.
The news was just revealed during an in conversation between Noah and Spotify CEO Daniel Ek at the Cannes Lions ad market in France. It comes a few months after South African comic Noah left Comedy Central’s The Daily Show after seven years in December 2022.
“Spotify is the ultimate audio destination, and partnering with Trevor Noah,...
The former Daily Show host has partnered with Spotify on a weekly podcast that will see him “blend his signature humor and razor-sharp wit with his global perspective to deliver a unique take on the hottest and most captivating topics of the moment.”
Launching later this year, the as-yet-untitled weekly show will include in-depth conversations between Noah and “some of the most influential and interesting figures around the world,” according to Spotify, which has podcast partnerships in place with the likes of Louis Theroux and Alex Cooper.
The news was just revealed during an in conversation between Noah and Spotify CEO Daniel Ek at the Cannes Lions ad market in France. It comes a few months after South African comic Noah left Comedy Central’s The Daily Show after seven years in December 2022.
“Spotify is the ultimate audio destination, and partnering with Trevor Noah,...
- 6/20/2023
- by Max Goldbart
- Deadline Film + TV
Updated with statement: The Sussexes have separated from Spotify, Deadline has confirmed.
As part of their reported $20 million deal with Spotify inked back in 2020, Prince Harry and Meghan Markle had the podcast Archetypes, which the latter hosted. The show, which explored labels that held women back and touted such guests as Trevor Noah, Mariah Carey, Mindy Kaling and Serena Williams, won’t be getting a second season despite talks.
“Spotify and Archewell Audio have mutually agreed to part ways and are proud of the series we made together,” Spotify and the couple’s Archewell Audio said Thursday in a joint statement.
We hear the Duke and Duchess of Sussex are rethinking their deals to find better homes and partnerships for content. There’s also a chance that Archetypes could wind up elsewhere.
At the end of April, Markle signed with WME with the agency also repping Archewell, the couple’s content creation label.
As part of their reported $20 million deal with Spotify inked back in 2020, Prince Harry and Meghan Markle had the podcast Archetypes, which the latter hosted. The show, which explored labels that held women back and touted such guests as Trevor Noah, Mariah Carey, Mindy Kaling and Serena Williams, won’t be getting a second season despite talks.
“Spotify and Archewell Audio have mutually agreed to part ways and are proud of the series we made together,” Spotify and the couple’s Archewell Audio said Thursday in a joint statement.
We hear the Duke and Duchess of Sussex are rethinking their deals to find better homes and partnerships for content. There’s also a chance that Archetypes could wind up elsewhere.
At the end of April, Markle signed with WME with the agency also repping Archewell, the couple’s content creation label.
- 6/15/2023
- by Anthony D'Alessandro
- Deadline Film + TV
Spotify has announced its plans for Cannes Lions, the world’s largest celebration of the advertising and creative communications industry.
Running June 19-22, Spotify Beach will include masterclasses with appearances by Emma Chamberlain, “Call Her Daddy” host Alex Cooper and soccer star Cesc Fàbregas.
Daily programming will also include sound bath meditation sessions, an immersive Songs of Summer soundscape, a Football Club Barcelona play zone, a coffee and juice bar and a custom sunglasses gifting station.
The full calendar of events is below.
June 19
11 a.m.-12 p.m.
Building a Brand Is More Than Meets the Eye… and Ear
Panelists: Emma Chamberlain, host and creator, “Anything Goes”
Moderator: Taj Alavi, VP, Global Head of Marketing, Spotify
3-4 p.m.
Top Hits and Goal-Scoring Kicks: Fandom, Football and Media
Panelists: Cesc Fàbregas; Pola Gomez, award-winning Freestyler; Bradford Ross, VP Global Sports & Entertainment Marketing and Partnerships, Coca Cola; Benjamin Braun, European CMO,...
Running June 19-22, Spotify Beach will include masterclasses with appearances by Emma Chamberlain, “Call Her Daddy” host Alex Cooper and soccer star Cesc Fàbregas.
Daily programming will also include sound bath meditation sessions, an immersive Songs of Summer soundscape, a Football Club Barcelona play zone, a coffee and juice bar and a custom sunglasses gifting station.
The full calendar of events is below.
June 19
11 a.m.-12 p.m.
Building a Brand Is More Than Meets the Eye… and Ear
Panelists: Emma Chamberlain, host and creator, “Anything Goes”
Moderator: Taj Alavi, VP, Global Head of Marketing, Spotify
3-4 p.m.
Top Hits and Goal-Scoring Kicks: Fandom, Football and Media
Panelists: Cesc Fàbregas; Pola Gomez, award-winning Freestyler; Bradford Ross, VP Global Sports & Entertainment Marketing and Partnerships, Coca Cola; Benjamin Braun, European CMO,...
- 6/7/2023
- by Marc Malkin
- Variety Film + TV
Spoilers for "Succession" follow.
"Succession" is about power structures. The show's drama is about the dynamics of both the Roy family and the Waystar Royco leadership team — Logan (Brian Cox) has traditionally remained on top of both, and those underneath him are always squabbling for bigger pieces of the leftover pie. On a macro level, the show is a depiction of the neo-Gilded Age that is the 21st century. "Succession" focuses on the global elite, but take a drink every time the camera lingers on anonymous service workers toiling in the background.
Since the series parallels real life, it sometimes uses real people as inspiration. The Roys are the Murdochs, for instance, owners of NewsCorp and the most powerful family in media since the Hearsts. Then there's Lukas Matsson (Alexanders Skarsgård), the owner of GoJo who's set to acquire Waystar. Some have suggested he's based on Daniel Ek, the CEO...
"Succession" is about power structures. The show's drama is about the dynamics of both the Roy family and the Waystar Royco leadership team — Logan (Brian Cox) has traditionally remained on top of both, and those underneath him are always squabbling for bigger pieces of the leftover pie. On a macro level, the show is a depiction of the neo-Gilded Age that is the 21st century. "Succession" focuses on the global elite, but take a drink every time the camera lingers on anonymous service workers toiling in the background.
Since the series parallels real life, it sometimes uses real people as inspiration. The Roys are the Murdochs, for instance, owners of NewsCorp and the most powerful family in media since the Hearsts. Then there's Lukas Matsson (Alexanders Skarsgård), the owner of GoJo who's set to acquire Waystar. Some have suggested he's based on Daniel Ek, the CEO...
- 5/8/2023
- by Devin Meenan
- Slash Film
Spotify CEO Daniel Ek says the streaming audio giant is going to be “very diligent” in assessing future investments in podcasting as several of the company’s rich talent deals come up for renewal.
Speaking on the company’s first-quarter earnings call, Ek responded to a question from a Wall Street analyst wondering about the plans for potentially pricey renewals this year and next. During the period when Dawn Ostroff was spearheading content, Spotify spent more than $1 billion acquiring podcast assets and locking up exclusive deals with the likes of Joe Rogan and Dax Shepard. Ostroff left the company earlier this year, and her responsibilities have been taken on by Alex Nörstrom, the exec whose specialty has been the free, ad-supported side of the business.
“You’re right in calling out the overpaying and over-investing and I can start off by saying that we’re not going to do that,...
Speaking on the company’s first-quarter earnings call, Ek responded to a question from a Wall Street analyst wondering about the plans for potentially pricey renewals this year and next. During the period when Dawn Ostroff was spearheading content, Spotify spent more than $1 billion acquiring podcast assets and locking up exclusive deals with the likes of Joe Rogan and Dax Shepard. Ostroff left the company earlier this year, and her responsibilities have been taken on by Alex Nörstrom, the exec whose specialty has been the free, ad-supported side of the business.
“You’re right in calling out the overpaying and over-investing and I can start off by saying that we’re not going to do that,...
- 4/25/2023
- by Dade Hayes
- Deadline Film + TV
Audio streaming giant Spotify ended March with 210 million paying premium subscribers, up from 205 million as of the end of 2022 and above its forecast of 207 million.
Stockholm-headquartered Spotify, led by CEO Daniel Ek, also reported that it hit 515 million monthly active users (MAUs) as of the end of March, up from 489 million at the end of December. The company had previously estimated it would end the latest quarter with 500 million MAUs.
“We had our strongest first quarter since going public in 2018, with nearly all our (key performance indicators) surpassing expectations,” the company said.
However, first-quarter revenue fell short of expectations as advertising revenue at the firm continued to grow, but was affected, like digital giants, by macroeconomic headwinds. Quarterly revenue grew 14 percent to €3.0 billion ($3.3 billion), below Spotify’s €3.1 billion target, with management citing “macro-related variability in our advertising business.”
Spotify’s quarterly ad-supported revenue rose 17 percent year-over-year, driven by podcasting and the Spotify Audience Network.
Stockholm-headquartered Spotify, led by CEO Daniel Ek, also reported that it hit 515 million monthly active users (MAUs) as of the end of March, up from 489 million at the end of December. The company had previously estimated it would end the latest quarter with 500 million MAUs.
“We had our strongest first quarter since going public in 2018, with nearly all our (key performance indicators) surpassing expectations,” the company said.
However, first-quarter revenue fell short of expectations as advertising revenue at the firm continued to grow, but was affected, like digital giants, by macroeconomic headwinds. Quarterly revenue grew 14 percent to €3.0 billion ($3.3 billion), below Spotify’s €3.1 billion target, with management citing “macro-related variability in our advertising business.”
Spotify’s quarterly ad-supported revenue rose 17 percent year-over-year, driven by podcasting and the Spotify Audience Network.
- 4/25/2023
- by Georg Szalai
- The Hollywood Reporter - Movie News
Spotify is shutting down Heardle, the music-guessing game inspired by Wordle, less than a year after acquiring the game for an undisclosed amount.
“Thanks for playing Heardle, but unfortunately we have to say goodbye,” a pop-up message reads on the Heardle website. “From May 5th, Heardle will no longer be available.”
Spotify purchased Heardle last July amid the frenzy around Wordle, the word-guessing game created by Josh Wardle that the New York Times picked up in early 2022. At the time, Spotify said Heardle would serve as another music discovery tool for the platform and, in the future, would become available to listeners around the world in their native languages.
But less than a year later, Spotify has abandoned that plan as Heardle becomes the latest casualty in Spotify’s ongoing efforts to trim costs. “After careful consideration, we have made the difficult decision to say goodbye to Heardle as we...
“Thanks for playing Heardle, but unfortunately we have to say goodbye,” a pop-up message reads on the Heardle website. “From May 5th, Heardle will no longer be available.”
Spotify purchased Heardle last July amid the frenzy around Wordle, the word-guessing game created by Josh Wardle that the New York Times picked up in early 2022. At the time, Spotify said Heardle would serve as another music discovery tool for the platform and, in the future, would become available to listeners around the world in their native languages.
But less than a year later, Spotify has abandoned that plan as Heardle becomes the latest casualty in Spotify’s ongoing efforts to trim costs. “After careful consideration, we have made the difficult decision to say goodbye to Heardle as we...
- 4/14/2023
- by J. Clara Chan
- The Hollywood Reporter - Movie News
Spotify has only spent 10 per cent of the $100 million it pledged to use to support diversity, it has been reported.
The streaming service pledged the money in 2022, following criticism of giving a platform to podcaster Joe Rogan.
In 2021, the 54-year-old podcaster interviewed widely discredited doctor Robert Malone, who claimed on his show The Joe Rogan Experience that Americans were “hypnotised” into wearing masks and getting vaccines.
Soon after that, hundreds of scientists and medical professionals started asking Spotify to address Covid misinformation on Mr Rogan’s controversial episodes about vaccines.
This resulted in an onslaught of musicians and public figures including Neil Young, Joni Mitchell, and Prince Harry and Meghan Markle asking Spotify to remove their music and podcasts from the platform.
Although Spotify removed 70 episodes of The Joe Rogan Experience from their platform, they did not terminate Rogan’s contract.
In a memo obtained by Variety at the time,...
The streaming service pledged the money in 2022, following criticism of giving a platform to podcaster Joe Rogan.
In 2021, the 54-year-old podcaster interviewed widely discredited doctor Robert Malone, who claimed on his show The Joe Rogan Experience that Americans were “hypnotised” into wearing masks and getting vaccines.
Soon after that, hundreds of scientists and medical professionals started asking Spotify to address Covid misinformation on Mr Rogan’s controversial episodes about vaccines.
This resulted in an onslaught of musicians and public figures including Neil Young, Joni Mitchell, and Prince Harry and Meghan Markle asking Spotify to remove their music and podcasts from the platform.
Although Spotify removed 70 episodes of The Joe Rogan Experience from their platform, they did not terminate Rogan’s contract.
In a memo obtained by Variety at the time,...
- 3/24/2023
- by Megan Graye
- The Independent - Music
After controversy surrounding their star podcast host Joe Rogan came to a head last year, Spotify CEO Daniel Ek promised that the company would invest $100 million in music and other audio content from “historically marginalized groups” in an initiative called the Creator Equity Fund. But just over a later, Spotify execs have spent only 10% of that budget.
According to Bloomberg, the Creator Equity Fund had a hard time initially getting off the ground, taking months to hire staff and getting the brunt of “shifting priorities.” It doesn’t seem like they’ve had much luck sorting out their 2023 plans, either: A memo obtained by Bloomberg said that at the beginning of the year, they were still finalizing the fund’s budget and were still sorting out their priority projects.
“The Spotify Creator Equity Fund is dedicated to a variety of initiatives that help elevate and support an inclusive and diverse...
According to Bloomberg, the Creator Equity Fund had a hard time initially getting off the ground, taking months to hire staff and getting the brunt of “shifting priorities.” It doesn’t seem like they’ve had much luck sorting out their 2023 plans, either: A memo obtained by Bloomberg said that at the beginning of the year, they were still finalizing the fund’s budget and were still sorting out their priority projects.
“The Spotify Creator Equity Fund is dedicated to a variety of initiatives that help elevate and support an inclusive and diverse...
- 3/23/2023
- by Abby Jones
- Consequence - Music
Spotify is rolling out a major update to its interface, CEO Daniel Ek announced at the streaming giant’s “Stream On” event in Los Angeles on Wednesday. The revamped home feed has a vertical scrolling design meant to look more dynamic, with animated images, video clips and audio previews like the auto-playing trailers on Netflix.
On stage, Ek described the overhaul as Spotify’s “biggest change since going mobile.” Gustav Söderström, the company’s Chief of Research and Development, said it would enhance the user experience for both creators and...
On stage, Ek described the overhaul as Spotify’s “biggest change since going mobile.” Gustav Söderström, the company’s Chief of Research and Development, said it would enhance the user experience for both creators and...
- 3/8/2023
- by Miles Klee
- Rollingstone.com
Exclusive: Spotify is continuing its move to ramp up its video podcasts business.
The streaming service has struck a deal with creator Markiplier to exclusively host the video episodes of his Distractible and Go! My Favorite Sports Team podcasts.
The move comes as the Daniel Ek-led company has been growing its video content, launching video podcasts in 180 markets last year. Popular video podcasts on the service include Alex Cooper’s Call Her Daddy and Anything Goes with Emma Chamberlain.
The deal was announced at Spotify’s Stream On event and video episodes of both shows are available from today. Stream On included a set of other announcements, including an extensive makeover of the Spotify app and the reaching of the milestone of 500 million monthly active users.
It’s been a busy March for Markiplier, otherwise known as Mark Fischbach, the creator who has over 60M followers across social media,...
The streaming service has struck a deal with creator Markiplier to exclusively host the video episodes of his Distractible and Go! My Favorite Sports Team podcasts.
The move comes as the Daniel Ek-led company has been growing its video content, launching video podcasts in 180 markets last year. Popular video podcasts on the service include Alex Cooper’s Call Her Daddy and Anything Goes with Emma Chamberlain.
The deal was announced at Spotify’s Stream On event and video episodes of both shows are available from today. Stream On included a set of other announcements, including an extensive makeover of the Spotify app and the reaching of the milestone of 500 million monthly active users.
It’s been a busy March for Markiplier, otherwise known as Mark Fischbach, the creator who has over 60M followers across social media,...
- 3/8/2023
- by Peter White
- Deadline Film + TV
The TikTokification of Spotify has begun.
The audio giant is refreshing its home page with a vertical feed that is meant to better integrate Spotify’s offerings across music, podcasts, videos and audiobooks. Users will be given video previews of music and podcasts that they can scroll through, with recommendations powered by machine learning, on the home feed, executives said at Spotify’s Stream On event on Wednesday.
“This marks the biggest change Spotify has undergone since we introduced mobile 10 years ago,” Spotify CEO Daniel Ek said. “This evolution is really about bringing Spotify to life.”
The major product updates come as part of Spotify’s goal to reach 1 billion users by 2030, which would be double what Spotify currently has in 184 markets, according to Alex Norström, Spotify’s co-president and chief business officer. The changes to the home feed and user experience are meant to lean into Spotify as a discoverability tool,...
The audio giant is refreshing its home page with a vertical feed that is meant to better integrate Spotify’s offerings across music, podcasts, videos and audiobooks. Users will be given video previews of music and podcasts that they can scroll through, with recommendations powered by machine learning, on the home feed, executives said at Spotify’s Stream On event on Wednesday.
“This marks the biggest change Spotify has undergone since we introduced mobile 10 years ago,” Spotify CEO Daniel Ek said. “This evolution is really about bringing Spotify to life.”
The major product updates come as part of Spotify’s goal to reach 1 billion users by 2030, which would be double what Spotify currently has in 184 markets, according to Alex Norström, Spotify’s co-president and chief business officer. The changes to the home feed and user experience are meant to lean into Spotify as a discoverability tool,...
- 3/8/2023
- by J. Clara Chan and Evan Nicole Brown
- The Hollywood Reporter - Movie News
When Endeavor CEO Ari Emanuel opened his company’s earnings call with prepared remarks Feb. 28, a casual listener hearing him tout the UFC and WME might have missed the most interesting part: Emanuel wasn’t speaking at all.
Well, he sort of was. The words were his, and the voice was his, but rather than Emanuel speaking into a microphone (opening remarks on earnings calls are often pretaped), the comments were the product of a generative artificial intelligence firm called Speechify.
So why did Ari Emanuel (er, “AI Emanuel”?) use his company’s fourth-quarter earnings call to bring machine learning to its financial report? “We’re in business with them, we think they’re a really good company,” Emanuel said of Speechify (and yes, Endeavor disclosed in its earnings press release that the comments would be computer-generated), but he also noted that “we thought with all the conversation around AI...
Well, he sort of was. The words were his, and the voice was his, but rather than Emanuel speaking into a microphone (opening remarks on earnings calls are often pretaped), the comments were the product of a generative artificial intelligence firm called Speechify.
So why did Ari Emanuel (er, “AI Emanuel”?) use his company’s fourth-quarter earnings call to bring machine learning to its financial report? “We’re in business with them, we think they’re a really good company,” Emanuel said of Speechify (and yes, Endeavor disclosed in its earnings press release that the comments would be computer-generated), but he also noted that “we thought with all the conversation around AI...
- 3/8/2023
- by Alex Weprin
- The Hollywood Reporter - Movie News
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