It appears Spotify’s strategy of owning a chunk of the podcast game is paying off, at least according to its latest financial report. In the third quarter of 2019, Spotify states that in just three months, they saw a 39 percent increase in just three months — an "exponential growth".
The US is the biggest consumer of the format, but Spotify is also seeing bumps in a number of European countries. And those people who come to Spotify for podcasts are, according to the company, more likely to sign up for premium than others.
The company is looking to further analyze the data about podcasts and premium sign-ups, but believes that it's "onto something special." If proven true, we can expect to see Spotify lean even harder in to owning the space, with more paid-for exclusive titles to lock people into subscriptions. It looks as if the music platform will look to become a Netflix for Podcasts, with a number of new and original shows being commissioned.
What are your thoughts about this one? Is this a good thing or a bad thing?
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I was already confused by the title. Then the first few sentences made the confusion more confusing.