1 podcast publisher in the U.S., according to the most recent Edison Research data. Spotify is the most-used audio podcast platform in many key markets around the world and remains the No. Today, the service hosts more than 5 million podcast shows available in more than 170 markets. Spotify says it now counts more than 100 million podcast listeners, and that over half a billion people have listened to a podcast on the platform since the company entered the space in 2019. Globally, nearly a quarter of advertisers have doubled their spend year-over-year and about one-third of its music advertisers also buy podcasts (up nearly 75% year over year). On Spotify’s Q3 2023 earnings call last month, Vogel told investors that “we’ve seen improvements in the podcasting business” and that the company expects podcasting “to soon reach break-even and then become something that’s actually additive to gross profit.” In the third quarter, Spotify reported an all-time high of sold impressions in Q3 for the Spotify Audience Network and Original and Licensed shows. Spotify’s podcast biz has been operating at a loss, but the company believes podcasts can achieve potential gross margins of 40%-50% within the next five years - even higher than its 30%-35% gross margin target for music, CFO Paul Vogel said last year. And some of its exclusive deals with high-profile talent have ended after they didn’t pan out, including the pact with Prince Harry and Meghan, the Duchess of Sussex, which after three years had yielded just one series. The company has pared back its slate of original podcasts, canceling shows it said were underperforming, and laid off staffers as part of a reorganization. Those included “Hot Mess With Alix Earle,” a show hosted by the TikTok star produced by Alex Cooper‘s Unwell Network “What Now? With Trevor Noah,” a long-form interview podcast from “The Daily Show” alum and DC’s Batman series “The Riddler: Secrets in the Dark” starring Hasan Minhaj.Īfter five years in podcasting, Spotify has a better understanding of what works - and what doesn’t. In addition, according to Spotify, several of its original podcasts were among the “most anticipated” shows globally from U.S. In the U.S., alongside “JRE” and “Call Her Daddy,” Spotify has nine originals in the top 25: Dax Shepard’s “Armchair Expert” (#7), “Anything Goes With Emma Chamberlain” (#10), The Wall Street Journal’s “The Journal.” (#13) “Serial Killers” (#18) “Conspiracy Theories” (#21) Mark “Markiplier” Fischbach’s “Distractible” (#22) and “Science Vs” (#25). 2 show on the platform - interview show “Call Her Daddy” with Alex Cooper, which Spotify says is the most-listened-to podcast among women. The company’s lineup of original podcasts, which pull in millions of listeners, includes the No. The success of Spotify’s podcast strategy doesn’t really depend on having “The Joe Rogan Experience” exclusively. Meanwhile, he attracts a demo desirable for certain advertisers: Of those who said they listened to “The Joe Rogan Experience,” 81% were men and 56% were 18-34, according to a recent YouGov U.K. Of course, Rogan may decide to walk away from Spotify and take his fanbase with him it’s conceivable he could put the podcast behind his own paywall, say, for a limited exclusive window. Is Rogan worth the money - and the headaches? The comedian-actor turned podcaster regularly invites provocative guests on “JRE,” and Rogan and Spotify have faced protests over some of his material, including a boycott by some music artists in early 2022 over Rogan’s anti-vax episodes. (Spotify declined to comment on negotiations with Rogan.) CEO Daniel Ek told analysts earlier this year that “we’re going to be very diligent in how we invest in future content deals,” although he hasn’t addressed Rogan specifically in this context. And Spotify is under pressure to rein in content spending and demonstrate the company can generate a return on podcast investments. As strong a performer as Rogan’s show is, retaining exclusive distribution rights would cost a pretty penny.
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