In a memo to staff (spotted by Hollywood Reporter), Spotify’s head of the podcast division, Sahar Elhabashi, has mentioned that the company is expanding its partnership efforts with “leading podcasters from across the globe.” He also emphasised that the company is proceeding with a tailored approach optimised for each show and creator.
“This fundamental pivot from a more uniform proposition will allow us to support the creator community better. However, doing so requires adapting; over the past few months, our senior leadership team has worked closely with HR to determine the optimal organisation for this next chapter,” Elhabashi added.
As per the report, those impacted by the latest round of layoffs have received emails from HR. The company has also said that it will support these individuals with “generous severance packages, including extended healthcare coverage and immediate access to outplacement support”.
Spotify job cuts in January 2023
In January, Spotify laid off 6% of its global workforce, which is about 600 employees. The company is yet to comment on its latest job cuts.
The music streaming platform crossed 515 million monthly active users (MAUs) in Q1 2023. This was a 22% (year-on-year) growth from 489 MAUs in the last quarter. Q1 2023 has been the company’s strongest first quarter since it went public in 2018.
Spotify’s focus on the Podcast division
In the last three years, Spotify has made huge investments to expand its podcast unit. As per an SEC filing, the company has spent 493 million euros ($526 million), on four different acquisitions in the podcast space, since 2020.
Spotify has also entered into high-profile sponsorship deals with prominent names like Meghan, Duchess of Sussex and online celebrity Joe Rogan.
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