Spotify is reducing its staff by 200 people, amid broader changes to the streaming giant's podcasting division.
Spotify says it is cutting staff as it focuses on improving efficiency in a challenging economic environment, according to CEO Daniel Ek.Spotify has become a top podcast publisher, with more than 100 million monthly podcast listeners , according to the company.
But the cost of getting there, including expensive deals with newsmakers and celebrities, has come under. Last year, the company cut roughly 40 people from its podcast staff and scrapped 11 shows. Ray Wang, principal analyst at Constellation Research, said Spotify’s approach was too costly, which is why it is making these changes.Spotify reduces staff by 6%, Chief Content Officer Dawn Ostroff to leave
Spotify says it is cutting staff as it focuses on improving efficiency in a challenging economic environment, according to CEO Daniel Ek. Elhabashi said the company will broaden its analytics capabilities and maximize “consumption from the massive audience we’ve established through format innovation and ensuring that more creators in more places achieve success.”
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