Spotify is back in profit

• Spotify is in profit again (PDF); surprising analysts who were expecting the company to lose money this quarter. Revenue was up 11%; operating expenses were down 13%.

  • Ad revenue was up 16%. Spotify said: “Podcast advertising revenue growth remained in the healthy double-digit range, driven by significant year-over-year growth in sold impressions across original and licensed podcasts and the Spotify Audience Network, which was partially offset by softer pricing.” Podcasting will still lose money for the company for the next 12-24 months, according to CFO Paul Vogel.
  • Total monthly active users reached 574mn (up 26% on the year). The company has 226mn paid subscribers (up 16%). By way of comparison, Google announced late last year that they had 80mn YouTube Music and Premium subscribers; and YouTube Shorts, alone, reach 2bn MAUs.

• We hear that Spotify is testing public comments for podcasts. For select shows, all listener responses from the proprietary Q&A feature will be made available on the show’s episode page on Spotify, as long as they meet Spotify’s content guidelines. Spotify tells Podnews that “Participating creators will continue to have full control over questions and responses — they can publish or unpublish any response, or edit or remove Q&A prompts, through the interact tab of the Spotify for Podcasters dashboard.” (By way of comparison, reviews left on Apple Podcasts are not editable by creators.)

  • Spotify is currently sponsoring this newsletter, but in common with all advertisers, gets no editorial oversight.

• Audacy released its State of Audio: Level Up guide. The free download is designed to be “a modern blueprint for audio advertising, designed to provide a go-to playbook – including planning tips, creative how-to’s and innovative trends – to help advertisers level up the performance of their audio investments”

• Audioteria is a new platform for indie audio drama from the UK. It promises the very best of independently produced audio drama, enhanced audiobooks and audio theatre. It will also “provide a home for previously broadcast content, now out of license, that hasn’t yet found a home anywhere else”.

• As more podcasts are mixed in Dolby Atmos, a new headset has been announced for audio engineers to help mix in the surround-sound system. Audeze has released a firmware upgrade to its Maxwell headset to offer head tracking support, compatible with the Dolby Atmos Renderer for professional mixing.

• Podeo, the largest Arabic podcast platform, has partnered with Anuvu, an in-flight entertainment supplier to a number of large airlines, to bring its podcasts to the skies.

• In the UK, the IPA Bellwether Report predicts a “shallow” recession next year, and says that radio and podcast ad spend had declined.

• AdAge claims “mixed results” from brands using programmatic podcast ads. Meanwhile, The Media Leader’s Editor-in-Chief Omar Oakes says we should stop calling them podcasts and that “the word should never have been invented.” (Here’s how it was invented, by the way).

Tips and tricks - with Spotify for Podcasters

Wherever your podcast is hosted, Spotify has free tools to help you find new fans and grow your show. And our latest updates give you even more ways to personalize your presence on one of the most important surfaces on our platform: your show page. This is where many of your fans began their listening journey, and now you can customize that experience to help turn more visitors into loyal fans. Guide first-time listeners to your favorite content by pinning a “Best place to start” episode. Then add up to two “Host recommendations” to cross-promote with another show or just share some of your favorite content on Spotify. Start curating your show page, and check out all the ways Spotify for Podcasters can help your show stand out.

• RedCircle writes how to interview guests for your podcast. Researching the guest first, and avoiding any questions that can be answered with a “yes”, are in the list.

• Ausha discuss what keywords you should use for your podcast.

Podcast News

LEONARD: Political Prisoner has been picked up by Wondery+. The final four episodes of Season Two (including a recent interview with Pulitzer Prize winner Louise Erdrich) are now available to listen to only on Wondery+ along with the entire first two seasons, consisting of 22 total episodes.

TMZ Presents: The Documentaries is new this week. Harvey Levin goes beyond the red-carpet fantasies and break down what really goes on in Hollywood and beyond - the show starts with a two-part look at Britney Spears, as she releases her memoirs this week.

Grown, a podcast from The Moth is back for a second season today, featuring true stories about the challenges, joys, and ongoing journey of growing up.

It’s a year since Elon Musk bought Twitter. Vox Media’s Land of the Giants returns for a new series today. Hosted by Vox’s Peter Kafka, the show will tell the story of Twitter (now known as X) at a crucial moment for the platform, including interviews with former Twitter CEO Dick Costolo, first VP of Product Jason Goldman, Yoel Roth, a former head of trust and safety along with additional early and recent employees.

Once Upon a Project dives behind the scenes with interior designers who share the real stories of what it takes to bring projects to fruition - from the designer’s inspiration to the setbacks, surprises, and serendipitous events along the way. The new season launched this week.

In the latest episode of Spotify Earnings Call Replays, Daniel brings some good news, but what has his friend Paul brought along? And is it enough to make the analysts happy? This show is now more than three years old - join the gang for their life of ups and downs and fun financial figures. Depending on your stock holding, you’ll laugh or cry.

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