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Spotify news2/19/2023 ![]() “We released 100 new original and exclusive podcasts globally in the second quarter, with Batman Unburied hitting #1 in several key markets. Podcast revenue grew in the “strong double-digit range” over the year-ago period, the company said. At the end of June, Spotify had 4.4 million podcasts on the platform, up from 4.0 million at the end of March. ![]() The music streamer’s podcast business also continued to expand. Spotify reported a quarterly operating loss of €194 million ($197 million) and a net loss of €125 million ($127 million). Spotify’s quarterly ad haul jumped 31 percent to €360 million ($365 million), “reaching an all-time high as a percent of total revenue at 13 percent.”Īdvertising growth drove a total second-quarter revenue gain of 23 percent to €2.86 billion ($2.90 billion). Second-quarter advertising revenue at the Stockholm-based company continued to grow despite slowing ad momentum at some digital giants amid fears of a recession. The company, led by CEO Daniel Ek, had previously forecast it would end the quarter through June with 187 million paying subscribers, assuming “additional 600,000 disconnects from full closure of Russian operations in April,” and 428 million monthly active users, reflecting “a loss from the closure of Russian operations.” The guidance marked a switch to providing single estimates for key metrics instead of the forecast ranges that it had previously shared with investors and Wall Street analysts. Gimlet and Parcast Unions Decry Podcast Cancellations: "Spotify Chose to Create Chaos"
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