Spotify makes a billion

• Spotify has released its Q1/24 financials. The corporate revamped €1bn gross revenue (US$1.07bn) for the primary time; and returned €197mn of internet revenue.

  • Spotify’s revenue margin for Q1 elevated Y/Y from 25.2% to 27.6%. It laid off over 2,300 individuals final 12 months, and raised costs in lots of territories.
  • Advert income grew 18% Y/Y. “Podcast promoting income grew sooner than music, pushed by vital progress in impressions bought … partially offset by softer pricing. The Spotify Viewers Community noticed excessive single digit Q/Q progress in taking part publishers and reveals.” The corporate doesn’t break up out podcast income.
  • Spotify now has 615mn month-to-month customers (up 19%): beneath expectations. It grew paid subscribers by simply 14%, to 239mn.

• 86% of branded podcasts improve a model’s affinity with their listeners, says new information from Sign Hill Insights. Branded podcasts additionally assist with model recall. The 2024 Branded Podcasts Benchmark Report is launched as we speak.

• iHeartMedia has launched the Women’s Sports Audio Network, which it calls the primary ever audio platform devoted to girls’s sports activities.

• Podcast analytics and insights platform CoHost has introduced the publication of its second annual State of Podcast Agencies report. The most important situation for podcast companies? Trackable ROI, which impacts 33% of companies.

• In the UK, AudioLab has been launched by Adwanted UK. It’s claimed to be the primary cross-platform digital audio measurement resolution within the nation.

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• We lined Spotify’s quiet withdrawl from the IAB on Monday. In commentary about Spotify’s IAB , RAIN’s Brad Hill calls it “a signal of extraordinary self-sufficiency”. He additionally notes that the IAB’s web site nonetheless lists Spotify as a member of the IAB Podcasting Technical Working Group; we noticed that too, however we’re advised that is an error (not least, the named contact, Kevin Sachs, left the corporate on the finish of March).

• There’s a new podcast studio in Brookfield, Illinois.

• Crime Junkie is to be a 24-hour radio station. Crime Junkie Radio is a 24/7 true crime radio station on SiriusXM. It launches on Friday morning.

• The Audio Drama Directory is “a web based useful resource with the objective of providing essentially the most complete listings of internet sites for audio drama fans.” New to us, it’s been operating since final 12 months.

• Roland is to launch a podcasting equipment. “Go:Podcast” gives you a USB microphone and an app that helps video and dwell streaming.

• The Peabody Awards has announced some nominees, together with for its podcast classes.

• Wondery has launched Wondery+, its curated premium podcast service, for UK podcast listeners. We’re promised plenty of British content material, and a localised and curated ad-free expertise for UK audiences.

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Corporations talked about above:
CoHostIABiHeartMediaPeabody AwardsSignal Hill InsightsSiriusXMSpotifyWonderyYouTube

Podcast information for Apr 24

#1 in Apple Podcasts
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#1 in Spotify
The Joe Rogan Experience (Joe Rogan)
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During the last week, 210,292 podcasts revealed at the very least one new episode (down 0.5%). source

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