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Spotify’s Big Bet On Podcast Leads To Inclusion Of 8 Million Paying Users

The podcast audience for Spotify is undergoing huge increment, the firm disclosed in its earnings report this week. The firm claims that its podcast users have increased by more than 50% since the past quarter, and that it has almost increased 2 times since the beginning of this year.

The firm also witnessed user numbers increase in general, with its total number of premium users increasing to 108 Million by 9% in comparison to the previous quarter, and monthly active consumers increasing to 232 Million, an elevation of 7% that the media notes surpassed expectations.

The development in its podcasting business recommends that the investment by Spotify is beginning to pay off. Previously this year the firm purchased Gimlet Media (the podcasting network) as well as Anchor, which manufactures tools to allow creators publish, build, and monetize podcasts.

The month after that, it purchased one more podcast network—Parcast. At the time of the Gimlet acquirement the firm claimed that it anticipated spending almost $500 Million in its podcasting business, with Daniel Ek (the firm’s CEO) forecasting that 20% of all listening on the service will ultimately arrive from podcasts.

Previous month Spotify declared a multiyear podcasting agreement with Barack and Michelle Obama’s media company, Higher Ground Productions. It will lead to podcasts that are elite to the streaming platform.

On a related note, Spotify has been accessible on the iPad for various years, but it has not actually developed to take benefit of the growing multitasking abilities of Apple tablet. You still have to switch to a full-screen mode just to see what your buddies are playing or begin a new playlist. Spotify earlier stealthily upgraded its iPad app with multitasking support modes such as Split View and Slide Over. You can keep tracks on an album while you are reading the bio of the artist on the Internet, or browse podcasts without disturbing your group conversation.

Ross Hanson
Content Writer At Industry News Report 24

Ross has studied masters in business administration from one of the elite universities. Formerly, he worked with one of the Fortune 100 companies in the U.S. his in-depth knowledge related to statistics has helped in managing the professional duties very well. In leisure time, Ross loves to play badminton. He is a pet lover and has a cute German shepherd “Tarzan.”

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