The company said in June that it had more than 100 million podcast listeners, a tenfold increase from 2019, with the goal of making its podcast business profitable next year. Spotify said 21 of its monthly active users now listen to podcasts, up from 19 in the previous quarter. It added video podcasts in 2020, extending its potential reach. Armchair Expert ranked ninth on Apple Podcasts in 2020 and was snatched up by Spotify in 2021.

Since then, Spotify signed deals with public figures including Prince Harry and Meghan Markle, the Obamas and Kim Kardashian. The Wall Street Journal’s Anne Steele wrote that “Spotify and Pandora are expanding into a market with many distribution players yet no clear moneymaker, despite the huge potential audience.”

The Wall Street Journal’s flagship daily podcast. The Journal is a co-production of Spotify and The Wall Street Journal. Hosted by Kate Linebaugh and Ryan Knutson, with Jessica Mendoza. It did not disclose how much it expected to pay or earn from programming at that time. The Journal is a co-production from Spotify and The Wall Street Journal. The most important stories about money, business and power. Spotify began making podcasting a priority in 2018, capitalizing on its machine-learning and AI capabilities to help users find the most relevant podcasts for them.

Spotify has invested $286 million in podcasting studios and shelled out upwards of $250,000 per episode for exclusive content-all to report over $564 million in losses, on $6.6 billion in revenue, in the first six months of 2023. The Journal is a co-production from Spotify and The Wall Street Journal. Spotify’s billion-dollar bet on podcasts hasn’t paid off, according to The Wall Street Journal, as the company is cutting staff and programming in light of unprofitable shows. In an Instagram video post, Joe Rogan addressed the growing backlash against him and Spotify, which distributes Rogan’s podcast, stemming from accusations that his show spread false information.

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