Daniel Ek does not regret having expanded the number of content offered on Spotify, especially in the field of podcasting. The company has invested heavily for several years to make the application one of the priority platforms for listening to audio programs, with the acquisition of studios and exclusive content to retain its audience.
For 2023, the Spotify teams have only one mantra: ” speed and efficiency “. The group, which recently separated from 600 employees, will also reorganize for faster decision-making. Alex Norstrom, commercial director of Spotify, and Gustav Söderström, director of products of Spotify, became vice-presidents of the company and will obtain more responsibilities in the evolutions of the service in order to gain in flexibility. Investments will also be slowed down this year. Daniel Ek explains that he now wants to take advantage of the expenses already made, in podcasts as well as in audio books.
Spotify knows that it is not yet the reference platform in the field of audiobooks, but that does not pose a problem for its leader. He says: ” There are two types of businesses: there’s the business that expects it to be perfect the first time…and then the business that releases something that it knows needs work and is quickly improves from there. We are definitely the last. »
It is therefore time for savings and measured expenses for Spotify, which is still aiming for one billion subscribers in 2030, but also for sustainable profitability in the coming years.
