And in addition to finalizing agreements for other high-profile podcasts, the platform has strived for greater profitability through expanded pay-for-promotion options, which have already factored into negotiations with the Big Three labels. Since announcing in May that it would become the exclusive home of The Joe Rogan Experience, Spotify has seen its stock nearly double in value, with shares worth $279.36 apiece when the market closed today. ![]() “And so for us we think continuing to move the ball forward with our ability to grow users and subs, innovate on the product, add more content, you know, really, really is what’s gonna set us up for long-term success,” finished Vogel. ![]() But we wouldn’t be investing as aggressively in content, or R&D, all the stuff we’re doing around AI and machine learning. … And if we wanted to, we could obviously manage the business to show, you know, an income-statement profitability if we wanted to. “We think there’s a huge opportunity for us to continue to expand. And a key element of the company’s vision for reaching these potential subscribers is reinvesting as opposed to prioritizing short-term profits, per Vogel. And our view is it should be Spotify,” said Vogel. On Tuesday, Spotify unveiled major changes to its app, leveraging its greatest advantage in its. “At the end of the day, there’s billions and billions of smartphones, and there’s no reason why every smartphone out there shouldn’t have a streaming-audio service. It is taking credit for the music industry’s return to growth after years of shrinking revenue.
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