When Spotify announced its largest-ever round of layoffs in December, CEO Daniel Ek hailed a new age of efficiency at the streaming giant. But four months on, it seems he and his executives weren’t prepared for how tough filling in for 1,500 axed workers would be.
The music streamer enjoyed record quarterly profits of €168 million ($179 million) in the first three months of 2024, enjoying double-digit revenue growth to €3.6 billion ($3.8 billion) in the process.
However, the company failed to hit its guidance on profitability and monthly active user growth.
Edit: Thanks to @[email protected] for the paywall-free link: https://archive.ph/wdyDS
Yeah. I noticed all my [REALLY SMART] friends were shilling spotify and amazon prime like crazy back in the day. Meanwhile I’ve just been using Pandora for over a decade without spending any money. If I want to stream a specific song, there’s youtube. Otherwise, I just download music for free using my brain.
I really think it’s the result of viral marketing more than anyone else.
Pandora usually plays the song I want anyway
It’s why I sub to YouTube premium. I can get any song to ever exist on there.
Yeah, as shitty as YouTube has been to their free users, YouTube music has had every song we’ve ever looked for.