LOS ANGELES, CA – NOVEMBER 20, 2021 – Studio 11 will be used for audio only podcasts inside, â€Pod City,
Earlier Spotify announced its own Q2 financial report, although the number of free and paid users both rose in the quarter (to 433 million and 188 million respectively), the company still recorded a loss of 1.94 euros for the entire quarter. The reason behind this may be their spending on marketing. Faced with the possibility of people cutting back on entertainment consumption during the economic downturn, Spotify, although satisfied with the “resilience” of its business, will inevitably invest money to attract users.
For this part of the cost, they hope to rely on the growth in subscription and revenue to make up. At the same time, Spotify will further shift to cheaper audio content such as podcasts and audiobooks, and will control the amount paid to record companies.