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 to Spotify for five main reasons: original content, content diversification, creator opportunity, margin 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 just        of Spotify’s total        2019 revenue
  • Spotify is weaponising podcasts for user acquisition much as Netflix did with TV shows, launching        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 users representing        of all podcast users, what Spotify does in podcasts will have major impact on the entire market
  • Spotify will capture around        of the global podcast market in 2019; if it increases that share to        in 2020, it will generate around        million
  • Podcasts could prosper in a recession due to more consumers listening for free and advertisers shifting spend to digital

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

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