![]() 30, the Swedish audio streaming service said it was “working to add a content advisory to any podcast episode that includes a discussion about COVID-19.” ![]() “Frankly, we probably haven’t done a very good job of explaining it.Spotify will be adding content advisories to podcast episodes in an effort to combat misinformation about COVID-19, the company’s chief executive officer, Daniel Ek has announced. “We’ve morphed dramatically as a business,” Ek said. The overall message that Ek and other Spotify brass wanted to impart to investors: The company has more upside longer term than many on Wall Street think. ![]() Spotify expects to exceed 1 billion users worldwide by 2030, more than double from 422 million as of the end of the first quarter of 2022, execs said. ![]() Spotify has paid top dollar to get exclusive rights to popular podcasts: In 2020 it inked a deal with Joe Rogan worth more than $200 million over 3.5 years, and last year nabbed “Call Her Daddy” in a $60 million three-year pact with Cooper. In addition, the O&E podcasts let Spotify “engage music-only audiences already on the platform” to “level them up to become both music and podcast listeners.” On the podcast content front, Spotify’s owned-and-exclusive strategy is geared around using “tentpole” shows - like top 10 podcasts “The Joe Rogan Experience,” Alex Cooper’s “Call Her Daddy” and Dax Shepard’s “Armchair Expert” - to attract podcast listeners from other platforms, said Dawn Ostroff, chief content and advertising business officer. Podcasting is “a market that almost doesn’t exist, but it has a lot of tailwinds behind it.” Spotify also has big expectations for the audiobook market, which it entered with the acquisition of Findaway in November 2021. ![]() To enter the podcast market, “we had to do a lot more heavy lifting” compared with music streaming, CEO Daniel Ek told investors. Long term, Spotify believes podcasts can achieve potential gross margins of 40%-50% within the next five years - even higher than its 30%-35% gross margin target for music. ![]()
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