With a vast array of podcasts across multiple platforms, Spotify now appears to be cutting back some of its investment in this darling sector in recent years. That’s because sources confirmed to TechCrunch that Swedish streaming will lay off about 5% of the podcast staff, in addition to canceling at least 11 original shows.
The movement recalls cases such as those of Netflix, T-Mobile, Niantic or Twitter, which recently laid off employees to balance the accounts. In this case, at least, Spotify is focusing on a rather large area of the company — which has about 500 original podcasts, produced by studios that the company bought over time.
Two of them, Gimlet and Parcast, will be impacted by this change, as cancellations will affect shows: “Crime Show,” “How to Save a Planet,” and “Every Little Thing” (from the former); and “Female Criminals,” “Haunted Places,” “Mythology,” “Medical Murders,” “Crimes of Passion,” “Dictator,” and “Urban Legends” (from the second studio). “Horoscope Today” is also expected to be discontinued in the first half of 2023.
As for layoffs, the source does not cite an exact number, but that will also have an effect. Last but not least, there will be some changes in the leadership of these two studios. According to an internal memo, Nicole Beemsterboer will be the new managing director of Gimlet. Parcast also has a new director, Liliana Kim.
O Spotify is looking to take on Amazon and Apple in the audiobook spaceand their efforts include launching 300,000 audiobooks on the platform last month.
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