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What Next | Daily News and Analysis
TBD | Spotify Unwrapped
Dec 8, 2023
Guest Ashley Carman, Bloomberg reporter who covers Spotify, discusses Spotify's layoffs, financial struggles, and ambitions for the future. The podcast explores Spotify's impact on the music industry, its podcasting strategy, and its position in relation to TikTok. It also delves into the recent app redesign and its goal of becoming a hub for discovering culture, music, and podcasts.
27:07
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Quick takeaways
- Spotify's recent layoffs and cancellations of original podcasts reflect the company's adjustment to expectations and cost-cutting measures to achieve ambitious profitability goals.
- Spotify's aim to become a dominant podcasting platform and challenge YouTube as a creator destination is evident through its acquisitions, licensing deals, and focus on original podcast production.
Deep dives
Spotify's Shift and Layoffs
Spotify is facing a transition phase as it strives to achieve ambitious profitability goals. Despite turning a surprise profit in Q3, the company recently announced another round of layoffs, signaling the need for serious cost-cutting measures. The CEO acknowledged that Spotify is entering a new phase, requiring a CFO with different experiences. The setbacks have led to questions about Spotify's health, but it appears that the company is feeling the pressure to achieve its goals and make necessary cuts.
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