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Spotify To Lay Off 2% Of Staff

Spotify is expected to lay off 2% of staff (approx. 200 people), mainly in the podcast division, with reports of the cuts helping Spotify become an “optimal organisation” for the next stage of talk-content business.

Gimlet Media and Parcast are expected to merge into Spotify Studios, with The Ringer continuing to operate independently. Additional cuts will impact finance and talent acquistion.

“Our continued success in growing the podcast ecosystem is predicated on the necessity that the Spotify Machine is always in motion. And with these changes, we will accelerate into the next chapter for podcasts on Spotify with strong discovery and podcast habits for users, thriving monetization and audience growth for creators, and a valuable, high-margin business for Spotify.”

An executive shuffle is also in plans with Liliana Kim to head current content for Spotify Studios and Liz Gateley to head up development. Julie McNamara will continue overseeing organisation of the studios, and Bill Simmons will stay on as managing director of The Ringer.

‘The Journal,’ ‘Science Vs. Serial Killers,’ and ‘Conspiracy Theories’ are among the shows expected to remain in production.

Employees have expected the layoffs to come, with a reorganisation planned for podcast studios. These have yet to receive annual budgets.

Spotify gained Gimlet and Parcast in 2019, with The Ringer acquired in 2020 to add sports and culture content.

The company has spent over $1 billion on a strategic effort to dominate the podcast market.

There are reports there are now 100 million podcast listeners on Spotify, increasing 10%, and consumption has grown over 1,400%.

There have been many reorganisations and strategy shifts however over the last few months, with Chief Content Officer Dawn Ostroff leaving in January, and round of layoffs that impacted 6% of staff.

Just last week it was announced former sportscaster Jemele Hill would be leaving the network, along with production company Higher Ground and Ava DuVernay.

The company is now set on offering the programming across all podcast platforms, not just exclusively to Spotify.



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