The famous music-streaming platform, Spotify, is about to lay off its staff, according to sources.
Spotify Cancelling Original Podcasts:
According to the sources and rumors, it tells that Spotify is thinking of axing a small portion of its original podcast programs. They will be cancelling around 11 out of 500 current shows.
The 11 shows are from Parcast and Gimlet, the two podcast studios that Spotify purchased back in early times of 2019 as part of their buying binge and entering the space. The cutbacks will affect around 5% of Spotify’s total podcast staff. Some of them will be laid off, while others will be reassigned to other teams. As per the sources, it’s familiar with the change. There will be no shows at Spotify Studios, or the Ringer is being axed.
Here is a list of shows that will be cancelled:
- How To Save A Planet
- Crime Show
- Every Little Thing
- Medical Murders
- Female Criminals
- Crimes of Passion
- Haunted Palaces
- Urban Legends
- Horoscope Today
As of now, Spotify has declined to comment on the cancellations.
Spotify is currently paring back to the podcast slate as part of its focus on its original and exclusive shows that have been running consistently with a hit the Top 20 on its charts. These include hits like:
- Warner Bros./DC’s ‘Batman Unburied’
- Meghan Markle’s ‘Archetypes’
- Alex Cooper’s ‘Call Her Daddy’
- Caso 63
- Kim Kardashian’s ‘The System’
Spotify has the most-listened-to podcast on a regular basis, ‘The Joe Rogan Experience’, that is available exclusively on the platform under their multiyear $200 million-plus deal with Joe Rogan.
Furthermore, Spotify has recently refused to renew the deal with Ex-President Barack Obama and Michelle Obama, which was secured back in 2019. The Obamas’ Higher Ground has reached a new deal with Audible for their original podcast programs.
Spotify’s podcast business is a money-loser for now. Back in 2021, it generated around €200 million in revenue 2021 with a negative gross margin of -57%, CFO Paul Vogel told investors in June.
What You Need To Know Spotify:
Spotify is a music-streaming platform that lets users download and save songs to their playlists. You can listen to the original songs that are released by real artists. The music quality of the music-streaming platform is on another level. People who want to join Spotify Premium can choose the plan according to their needs.