The famous music streaming platform, Spotify, is about to lay off its staff, sources say.
Spotify canceling original podcasts:
According to the sources and rumors, it indicates that Spotify is planning to cut a small part of its original podcast programs. They will cancel about 11 of the 500 current shows.
The 11 shows come from Parcast and Gimlet, the two podcast studios Spotify bought in early 2019 as part of their buying spree and entry into the space. The cuts 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. According to the sources, he is familiar with the change. There will be no shows in Spotify studios or the ringtone will be removed.
Here is a list of shows that will be cancelled:
- How to save a planet
- Criminal spectacle
- All the small things
- Medical murders
- Crime of passion
- haunted palaces
- Urban legends
- horoscope today
For now, Spotify has declined to comment on the cancellations.
Spotify is currently in the process of returning to the podcast list as part of its focus on its original and exclusive shows that have consistently aired with Top 20 success on its charts. These include hits like:
- “Batman Unburied” by Warner Bros./DC
- The “archetypes” of Meghan Markle
- “Call Her Daddy” by Alex Cooper
- Case 63
- Kim Kardashian’s “The System”
Spotify regularly features the most-listened to podcast, “The Joe Rogan Experience”, which is available exclusively on the platform as part of their multi-year, over $200 million deal with Joe Rogan.
Additionally, Spotify recently declined to renew the deal with former President Barack Obama and Michelle Obama, which was struck in 2019. The Obamas’ Higher Ground reached a new deal with Audible for their original podcast programs.
Spotify’s podcast business is losing out so far. In 2021, it generated around 200 million euros in revenue in 2021 with a negative gross margin of -57%, chief financial officer Paul Vogel told investors in June.
What you need to know about Spotify:
Spotify is a music streaming platform that allows users to download and save songs to their playlists. You can listen to original songs 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.
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