Spotify continues building its podcast empire despite lockdown
After snatching the rights to the Joe Rogan Experience from the hands of its competitors, Spotify is charging ahead with its podcast strategy. Does the streaming platform just want to be the biggest on the block – at any cost?
In the first three months of 2020, Spotify reported a 31% rise in paid subscribers. Despite reaching 130 million paying customers, due to a slowdown in advertising because of coronavirus its revenue rise fell short of analyst estimates.
Beyond advertisers tightening their purse strings, with most listeners staying at home, listening habits have changed dramatically. No longer your companion for the morning commute, Spotify is banking on people tuning in from home to continue its steady growth and pay off its podcast acquisition debts.
While Spotify is often viewed as a music streaming platform, through an expansive podcast strategy, the platform is trying to shake off that association and position itself more broadly, as the largest audio platform in the world instead.
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