When Spotify bet beyond music, the company moved aggressively toward the wider audio space, temporarily gaining corporations and teams to lead the effort. Last summer, Spotify announced the acquisition of the Gimlet Media podcast network, portfolio and podcast network, The Ringer, the Anchor podcast distribution and recording platform, and the production studio, Parcast.
Warner Bros. and D.C. Entertainment will work with Spotify to create podcasts with original scripts based on the superheroes Superman, Batman, Wonder Woman and the Joker. Independent filmmakers Duplass Brothers, social media influencer Kim Kardashian West and TikTok author Addison rae are also part of Spotify’s podcast skill strategy. Expanding through a niche lens while booking the Level 1 skill, Spotify further diversifies its content and invites new audiences.
While user expansion is expanding with nearly three hundred million monthly assets in the service, revenue continues to decline year after year, and paid subscribers sta stream. Spotify recently announced its results of the time of the 2020 quarter, reporting a 21% loss in advertising revenue, attributing the decline to the pandemic, noticing momentum in June after a slow first quarter. With customer listening behavior becoming as business travel disappeared amid the spring pandemic, Spotify might want to find other tactics to attract and rate users. Of Spotify’s 299 million users, only about half, 138 million, are paid subscribers.
According to an anonymous artist whose music is distributed on Spotify and other DSPs, betting on the podcast is just one aspect of Spotify’s good luck equation. Artist considerations: Those who aren’t the most productive exclusive talents are somewhat indebted to giants like Spotify with little or no influence, and feel the diversity of touch content as exclusive podcasts saturate the ecosystem and alienate enthusiasts from finding and building originals. relationships with the artists themselves. While Spotify leads as a generation company, constantly iterating on products, there are blind spots at the intersection of the generation, UX, and music it deeply creates. Problems with incompatible album credits, the option to search for artists, channeling knowledge errors, and communication between artists, labels, and vendors stand out in Spotify’s largest ecosystem, which infrequently creates diluted joy for enthusiasts, and a sense of helplessness for artists. looking to connect. very nuanced contact issues.
While no service satisfies everyone, Spotify continues to innovate and show progress in shaping storytelling with exclusives, a cultural asset that would arguably be harder to justify as monetary, but can also be very strategic in the long run. , translating into income. Increases.
I’m interested in culture and how it moves people. My ideal is the intersection of music and technology, however, I also write about entertainment,
I’m interested in culture and how it moves people. My ideal policy is the intersection of music and technology, however, I also write about entertainment, media, gender and food. I host the Current Mood podcast, a series that explores intellectual fitness and entrepreneurship.