2023-06-06 05:00:00
Spotify Technology SA will fire the 2% of your employees, or 200 personas, primarily in its podcast division, the company announced in a blog post. Sahar Elhabashi, vice president and head of the podcast business, made the announcement, saying that lThe cuts would help the streaming service become an “optimal organization” for the next stage of your business.
Two of the company’s studies, Gimlet Media and Parcast will eventually merge into Spotify Studios, while the brand of those networks will be removed from the schedule. The Ringer, a third studio, will continue to operate independently, a spokesperson said in an emailed comment. Additional cuts will affect finances and talent acquisition.
“Our continued success in growing the podcast ecosystem is rooted in the need for the Spotify Machine to always be on the go,” Elhabashi wrote. “And with these changes, we will accelerate the next chapter of podcasts on Spotify. with strong discovery and bidding habits for users, thriving monetization and audience growth for creators, and valuable, high-margin business for Spotify.”
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The layoffs will be accompanied by an executive shakeup. Liliana Kim will lead current content for the already reorganized Spotify Studios and Liz Gateley will lead development. Julie McNamara will continue to oversee the studio organization and Bill Simmons will remain as managing director of The Ringer and head of podcast innovation and monetization.
Among the shows listed that will remain in production are The Journal, Science Vs, Serial Killers y Conspiracy Theories.
Recently, employees have internally speculated regarding the possibility of layoffs. An email circulated on the anonymous workplace social network Blind saying a reorganization was planned for the podcast studios. Adding to the prevailing sense of unease, the studios have yet to receive annual budgets.
Spotify and podcasts
In 2019, Spotify acquired Gimlet and Parcast. In 2020, it acquired The Ringer to add sports and cultural content to its programming mix. Since the initial agreements, the company has spent more than US$1,000 million as part of a strategic effort to dominate the podcast space.
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Elhabashi noted in his post that there are currently 100 million podcast listeners on Spotifywhich represents a growth of 10%, and that consumption has grown more than 1.400%. However, in recent months, the organization has gone through major reorganizations and strategy changes. Former chief content officer Dawn Ostroff left the company in January during a round of layoffs that impacted 6% of staff. While Ostroff initially focused on signing big-name talent, many have not re-signed their exclusive deals since.
Last week, Bloomberg News reported that former sportscaster Jemele Hill would be leaving the platform. The Obamas’ producer Higher Ground and Ava DuVernay also left the service’s podcast roster. The organization is now looking to focus on offering its programming widely on podcast platforms, rather than keeping the shows exclusive to Spotify.
LM / ED
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