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Spotify makes a billion

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  • Spotify has released its Q1/24 financials. The company made over €1bn gross profit (US$1.07bn) for the first time; and returned €197mn of net income.

    • Spotify’s profit margin for Q1 increased Y/Y from 25.2% to 27.6%. It laid off over 2,300 people last year, and raised prices in many territories.
    • Ad revenue grew 18% Y/Y. “Podcast advertising revenue grew faster than music, driven by significant growth in impressions sold … partially offset by softer pricing. The Spotify Audience Network saw high single digit Q/Q growth in participating publishers and shows.” The company doesn’t split out podcast revenue.
    • Spotify now has 615mn monthly users (up 19%): below expectations. It grew paid subscribers by just 14%, to 239mn.
  • 86% of branded podcasts increase a brand’s affinity with their listeners, says new data from Signal Hill Insights. Branded podcasts also help with brand recall. The 2024 Branded Podcasts Benchmark Report is released today.

  • iHeartMedia has launched the Women’s Sports Audio Network, which it calls the first ever audio platform dedicated to women’s sports.

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Podcast News - with New Podcast Trailers - the podcast

    LEAH’S GALS, described as a a low-rent, Southern fried twist on a literary classic is available in full today. It’s the first production from Mind’s Eye Podcasts.
    Transit Unplugged
    Play trailerTransit Unplugged reaches episode 300 today. The show tackles issues like zero emissions, the bus manufacturing crisis in the US, and changing ridership patterns: today’s episode is a special transit CEO Roundtable recorded live at the ThinkTransit conference. It features an unscripted look into the lives and careers of four leading transit CEOs. (We hope they take transit to work).

Companies mentioned above:
CoHost logoCoHostIAB logoIABiHeartMedia logoiHeartMediaPeabody Awards logoPeabody AwardsSignal Hill Insights logoSignal Hill InsightsSiriusXM logoSiriusXMSpotify logoSpotifyWondery logoWonderyYouTube logoYouTube

Podcast data for Apr 24

#1 in Apple Podcasts
US flag The Joe Rogan Experience (Joe Rogan)
ZA flag Djy Jaivane (Djy Jaivane)

#1 in Spotify
US flag The Joe Rogan Experience (Joe Rogan)
ZA flag What Now? with Trevor Noah (Spotify Studios)

Over the last week, 210,292 podcasts published at least one new episode (down 0.5%). source


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