Why you won’t see any new TV rewatch podcasts during the Hollywood strike
Interestingly enough, net charges of €44 million linked mostly to the shutting down of podcasts, severance for layoffs, and excess real estate put a slight dent in its gross profit margins this quarter. Margins are 24.1 percent this quarter, compared to 25.2 percent last quarter . The company is shooting for profit margins of anywhere fromin the long term. And average revenue per user dipped as well, to €4.27 , a 6 percent decline from last year and a decrease from last quarter’s €4.32 .
Spotify CEO Daniel Ek said that the price increase was one of the ways the company was planning to grow its revenue in the future. But he also added that growing the number of ad-supported and Premium users was the platform’s preferred route for revenue growth.
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