Reports Media & Marketing

Spotify Podcast Strategy Strong Start, Long Way to Go

Report by Mark Mulligan
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The 20,000 Foot View:  Spotify has bet big on podcasts, viewing them as a means to multiple strategic ends. After a number of major acquisitions, Spotify is beginning to deliver meaningful audience and revenue numbers. Though it is still early days for Spotify’s podcast strategy, there is clear long-term potential to transform the wider audio landscape.

Key Insights

  • Podcasts matter            Spotify for five main reasons:            content, content diversification, creator opportunity,            relief, a big non-music bet
  •            million Spotify users streamed podcasts on-platform in            2019, generating            million, while podcast hours were up            on           
  • Podcasts represented                       of Spotify’s total            2019 revenue
  • Spotify is            podcasts for user acquisition much            Netflix did with TV shows,                       original titles in            2019
  •            of Spotify users listen to podcasts monthly, so it has converted less than half of its user base to Spotify-streamed podcasts
  • With Spotify            representing            of all podcast users,            Spotify does in podcasts will            major impact on the entire           
  • Spotify will            around            of the global podcast            in 2019; if it increases            share to            in 2020, it            generate around            million
  • Podcasts could            in a recession due to            consumers listening for free and            shifting spend to digital

Companies and brands mentioned in this report:   Acast, Anchor, Dax, Disney, Fox, Gimlet, Global, Marvel, Netflix, Pandora, Parcast, SiriusXM, Spotify