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Spotify's -$1,000,000,000 Mistake
Spotify is the largest music streaming platform in the world. They have over 550 million users, and generate ~$12,000,000,000 in revenue a year. However, Spotify has never turned a profit in it's life. The business is actually down -$4.4B since it started.
How does that make sense? How can a company be so successful, yet massively unprofitable? In episode 9 of the Share Your Screen podcast, that is the exact question we set out to solve.
How did Spotify get into this mess? What prevents them from getting out of it? And how can they fix it?
This topic was first brought to our attention by a WSJ article reviewing the business of Spotify's Podcast division, and coverage by Phil DeFranco
WSJ Article: https://www.wsj.com/business/media/spotify-podcast-gimlet-harry-meghan-kardashian-59866a5d
Phil DeFranco Video: https://www.youtube.com/watch?v=qRn_Ud8jrDg
Want more Nicky & Coco?
Tiktok:
Nicky - https://www.tiktok.com/@nicky.reardon
Coco - https://www.tiktok.com/@cocomocoe
Instagram:
Nicky - https://www.instagram.com/nicky.reardon/
Coco - https://www.instagram.com/cocomocoe/
Timestamps:
0:00 - Intro
2:09 - The Profitability Problem
5:33 - Spotify vs Netflix
10:49 - Why they put so much $ into podcasts
14:04 - Call Her Daddy
24:17 - The $1B Mistake
37:04 - How do they fix it?
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By NickyandCoco
5
8484 ratings
Spotify is the largest music streaming platform in the world. They have over 550 million users, and generate ~$12,000,000,000 in revenue a year. However, Spotify has never turned a profit in it's life. The business is actually down -$4.4B since it started.
How does that make sense? How can a company be so successful, yet massively unprofitable? In episode 9 of the Share Your Screen podcast, that is the exact question we set out to solve.
How did Spotify get into this mess? What prevents them from getting out of it? And how can they fix it?
This topic was first brought to our attention by a WSJ article reviewing the business of Spotify's Podcast division, and coverage by Phil DeFranco
WSJ Article: https://www.wsj.com/business/media/spotify-podcast-gimlet-harry-meghan-kardashian-59866a5d
Phil DeFranco Video: https://www.youtube.com/watch?v=qRn_Ud8jrDg
Want more Nicky & Coco?
Tiktok:
Nicky - https://www.tiktok.com/@nicky.reardon
Coco - https://www.tiktok.com/@cocomocoe
Instagram:
Nicky - https://www.instagram.com/nicky.reardon/
Coco - https://www.instagram.com/cocomocoe/
Timestamps:
0:00 - Intro
2:09 - The Profitability Problem
5:33 - Spotify vs Netflix
10:49 - Why they put so much $ into podcasts
14:04 - Call Her Daddy
24:17 - The $1B Mistake
37:04 - How do they fix it?