Spotify to slash 1,500 jobs as tech sector layoffs continue December 4, 2023 Spotify has reportedly revealed plans to trim its workforce by 1,500 employees, making up 17 per cent of its staff, as it looks to continue streamlining costs.
Spotify turns new page with audiobook deal to rival Amazon October 4, 2023 Spotify has inked deals with major publishers to bring audiobooks into its ever-expanding audio empire. Starting today, paying subscribers in the UK and Australia can listen to 15 hours of audiobooks on the Swedish streaming platform at no extra cost. Plans for a US launch are close by in the pipeline. Spotify users can pay [...]
Spotify slams report of gangs using platform for money laundering as ‘work of fiction’ September 6, 2023 Spotify has hit back at an investigation by a Swedish newspaper that said the music streamer's platform was allegedly being used by gangs to launder their ill-gotten gains via fake streams.
Padium: Inside Canary Wharf’s new premium padel club backed by Spotify co-founder September 5, 2023 Spotify co-founder Martin Lorentzon is providing hits of another kind – as the backer of new high-end padel club Padium in Canary Wharf.
How Spotify’s $1bn bet on podcasts failed to make any money August 9, 2023 In 2018, Spotify chief executive Daniel Ek announced the company would invest $500m in growing a podcast business. But that spend ballooned to more than $1bn over the next four years as the company licensed shows, bought numerous production studios and signed exclusive podcast deals with the likes of the Obamas and the Sussexes. Ek [...]
Spotify subscribers hit a high as it hikes rate prices July 25, 2023 More Spotify listeners are tuning in to the app’s services than ever as the Swedish streamer cranks up its premium prices looking to bolster profits. Subscribers to the streamer’s premium ad-free service have leaped by 10m since the previous quarter, up to 220m, Spotify reported today in their second quarter earnings. Monthly active users also [...]
Harry and Meghan’s Spotify deal ends after Duchess hosts just one series of her podcast June 16, 2023 The Duke and Duchess of Sussex’s deal with Spotify has ended following a mutual agreement between the royals and the streaming giant. The parting of the ways was confirmed by a joint statement from Archewell Audio, the couple’s content creation label, and Spotify. Meghan hosted only one series as part of the deal – the [...]
Spotify hits record half a billion monthly users and forecasts future revenue to soar April 25, 2023 The number of monthly active users on Spotify passed the half a billion milestone for the first time, the music streaming platform reported today. The number of monthly active users rose 27 per cent to 515 million in the first quarter of this year, 15 million more than the company’s estimates. Premium subscribers also grew [...]
Spotify’s revenue slow down will lead to 600 job losses, as tech giant becomes the latest to cull staff January 23, 2023 Spotify will be cutting its global workforce by nearly six per cent with around 600 people expected to lose their jobs. The music streaming platform has joined fellow tech giants including Amazon, Google, Meta and Twitter in laying off staff, with tens-of-thousands of workers being laid off in recent weeks. Last November Meta, the owner [...]
Brits switch to social media for music as concerts go meta, says Brit Awards sponsor Mastercard January 16, 2023 Younger Brits are more likely to get their music recommendations from social media with TikTok and Instagram the most popular platforms. According to a new report by Mastercard 56 per cent of those aged 16-24 found their favourite music online. The report by the Brits Awards sponsor claims social media is overtaking physical concerts and [...]