Spotify losses surge after podcast spending binge
source link: https://www.telegraph.co.uk/business/2023/01/31/spotify-losses-surge-podcast-spending-binge/
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Spotify losses surge after podcast spending binge
Streaming company has spent big on stars such as Joe Rogan and Harry and Meghan
Spotify signed the Duke and Duchess of Sussex to a lucrative multi-year deal as part of a significant investment in podcasts
Credit: Netflix
The boss of Spotify has admitted he got a “little carried away” as a spending binge on new podcasts and expensive hosts drove the streaming service to a deeper loss at the end of last year.Daniel Ek said his response to whether he regretted the investment drive was “no and yes”, insisting: “I still believe it was the right call to invest and I would do it again.”But he added: “In hindsight I probably got a little carried away and over-invested relative to the uncertainty we saw in the market.”The comments came as the Swedish company posted an operating loss...
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