Spotify Weeds Out 11 Original Podcasts Possibly Making Room For Upcoming O&E; Downsizes Podcast Staff By 5%

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  • Spotify Technology S.A. SPOT pulled 11 original podcasts from the platform.
  • It will impact studios Parcast and Gimlet and involve less than 5% layoffs from Spotify's podcast staff, TechCrunch reports.
  • Spotify will also reassign some staff to other podcasts.
  • Over the next couple of months, podcasts leaving the platform include Gimlet's "How to Save a Planet," "Crime Show," "Every Little Thing," as well as Parcast's "Medical Murders," "Female Criminals," "Crimes of Passion," "Dictator," "Mythology," "Haunted Places" and "Urban Legends."
  • In the second quarter of 2023, Spotify will remove "Horoscope Today."
  • Nicole Beemsterboer will become Gimlet's new managing director, as per an internal note. Liliana Kim will become the new MD of Parcast.
  • The move will likely help strengthen its slate of original and exclusive (O&E) podcasts.
  • The report noted that Spotify appears to be weeding out the duds, possibly making room for the several upcoming O&E titles the company intends to announce in the weeks and months ahead.
  • In September, Alphabet Inc GOOG GOOGL chief Sundar Pichai juggled tough questions from employees regarding cuts to travel and entertainment budgets, managing productivity, and potential layoffs
  • Employees questioned why Google is "nickel-and-diming employees" by cutting travel and swag budgets despite record profits and substantial cash reserves as it did after the pandemic.
  • Price Action: SPOT shares closed higher by 0.93% at $92.25 on Thursday.
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