Why Spotify is losing BILLIONS
Despite Spotify’s massive popularity and lovable brand, it’s still losing money and struggling to produce a self-sustaining business.
The platform has 551 million users in which 220 million of whom are premium subscribers. This is much higher than its biggest competitor Apple Music which boasts a premium subscriber base of just 88 million.
So, how come with this huge number of paying subscribers and global reach, Spotify just can’t seem to make a profit?
In this episode, we'll learn the fundamental problem with Spotify's business model, its multi-billion dollar investment in podcasting and ads to fight this, and why its tech giant competitors like Apple and Google don't just lower their fees to kill Spotify.
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Loryn from Dark Mode Digest
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Video chapters:
00:00 Introduction to Spotify
01:22 How Spotify got started
03:53 Spotify's business model
07:20 Spotify's billion-dollar investment in podcasting
09:13 What's the future of Spotify?
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