Audience of Spotify users who listen to podcasts doubles so far this year

Spotify knows it has to work hard if it wants to keep investors happy. Since its IPO, things have changed a lot for the company. Now, the business must be profitable and for that you have to increase premium subscriptions, since free subscriptions generally do not cover their expenses. In an attempt to turn around and capitalize on the popularity of podcasts, Spotify turned the platform upside down and focused on podcasts in an unexpected way.

It did so much that Spotify's new interface separates music from podcasts and makes a firm commitment to them, motivating users to pay a premium subscriptionif they want to have access to the platform's podcasts and their downloads. All this big investment is paying off, as Spotify's audience has grown significantly in the last quarter.

Spotify's success is due to podcasts

There is no doubt that one of the best decisions Spotify has made this year is to bet on podcasts on the platform. Spotify's audience has grown, leaving us with some very interesting facts:

• Spotify Increased its audience by 50% in the last quarter of the year, compared to the previous quarter.
• The number of Spotify subscribers has increased considerably, by 9%.
• Monthly users of the platform have increased to 232 million, 7%.

But this is mainly due to all the acquisitions that Spotify has made since it decided to bet on podcasts. The firm has bought some important companies in the sector such as:

• Gimlet Media, major podcast network.
• Anchor, which allows creators to enjoy tools to create, publish, and monetize podcasts.
• Parcast, another podcast network.

And they even signed a major deal with Obama's production company in June. Spotify said, at the time of acquiring Gimlet, that it would invest about $500 million in its podcast business and it looks like the results are finally coming in. The CEO of Spotify, Daniel Ek, expects that in a short time 20% of Spotify listeners will come from podcasts and these are growing at an accelerated rate, 50% more with each passing quarter, as we can read in his report. .