The international-famend audio streaming corporate, Spotify, is slicing 200 jobs from its podcast department, which equals 2% of its international personnel. The choice is according to a strategic realignment within the podcast division, which involves combining Parcast and Gimlet Media studios into one whilst keeping up Bill Simmons’ sports activities podcast “The Ringer” as a separate entity.
The corporate is increasing its partnerships with main podcasters world wide by way of customizing its way to optimize each and every display and writer. In a observe, Spotify VP Sahar Elhabashi wrote, “This fundamental pivot from a more uniform proposition will allow us to support the creator community better.”
Spotify has invested over $500 million in generating studios for podcasts and redesigned its app to emphasise podcasts in 2019. Spotify additionally distributes unique podcasts, together with “The Joe Rogan Experience” and Alex Cooper’s “Call Her Daddy” podcast.
Moreover, the corporate has scale back at the choice of exclusives it has. The offers with self-lend a hand guru Brené Brown, sports activities journalist Jemele Hill, and Barack and Michelle Obama will expire quickly.
According to Spotify, it’s the #1 podcast writer within the United States, with 100 million podcast listeners. Podcast advert earnings has grown by way of “high double-digit growth” from 2021 to 2022.
This will probably be Spotify’s 2nd spherical of layoffs this yr. In January, it reduce roughly 6% of its international personnel because of a slowdown in promoting spending. The CEO, Daniel Ek, commented on the time that he was once too formidable in making an investment forward of the corporate’s earnings enlargement and believed that the huge international industry and decrease possibility to the affect of a slowdown in advertisements would insulate them.
The former leader content material officer, Dawn Ostroff, who signed a number of podcasting offers right through her brief tenure, was once laid off right through the former spherical of layoffs.
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