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By Chris Cooke | Published on Tuesday 6 June 2023
Spotify yesterday announced a restructuring and downsizing of its podcasting operations, with about 200 jobs set to be cut, which constitutes about 2% of the companys total workforce.
The streaming firm really started ramping up its podcasting activities back in 2019, acquiring a number of podcasting platforms and production firms along the way, and entering into partnerships and exclusivity deals with some of the most successful podcasters in the business.
It was part of a bid to make Spotify the home of audio, rather than just music. The ultimate plan being to boost the companys long-term profit margins, based on the assumption that, with podcasts unlike…
Read the full article at: https://completemusicupdate.com/article/spotify-confirms-restructuring-and-downsizing-of-its-podcasting-business/