Spotify remains bullish on podcasts as a key growth driver for the company, across both the ad-supported and premium tiers of service. While podcast adoption remains relatively low across Spotify's user base, podcasts are driving higher engagement on the platform — which should boost monetization of its free-tier users.
About 14% of Spotify's total MAU — around 35 million users — listen to podcasts via the app. And total podcast hours streamed increased 39% QoQ in Q3, thanks primarily to consumption in the US and several European countries. Spotify makes much more off of its premium sub base than it does from its free tier, despite still having more ad-supported users: Ad-supported users account for 56% of Spotify's user base, but just 10% of its total revenue. Rising global engagement with podcasts could help Spotify increase the ARPU of its free-tier users as podcast advertising has grown increasingly appealing to brands.
Podcast listening could also be driving some ad-supported users to convert to premium subscribers. Although Spotify couldn't prove causality, the company noted that there's a strong correlation between podcast engagement and conversion of free to paid users.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WOMEN-OWNED-BUSINESS MONTH: Women entrepreneurs share their top tips and strategies for running their companies, and how to be a successful leaderBusiness Insider profiled female entrepreneurs, interviewed experts, and reviewed research highlighting major opportunities and challenges. How is this not discriminatory? Are they actively keeping out men? Since all are woman, it would seem so. These are just a bunch of hypocrites and should be reported to the law. Good info. If you need more data I did this video: Good info. If you need more data I did this video:
Source: BusinessInsider - 🏆 729. / 51 Read more »
Spotify CFO says podcasts will be as important to the company as streaming is for NetflixWhile podcasts require an investment, eventually 'we'll grow faster and be more profitable as a consequence,' Spotify CFO Barry McCarthy says. do r*ta*ds pay for podcasts ?
Source: CNBC - 🏆 12. / 72 Read more »
Hong Kong protests push insurer AIA to worst quarterly new business growthAsia-focused insurer AIA Group Ltd posted its smallest ever quarterly ... 'They have nothing, but they are free.' -- Angelina Jolie on Mosul refugees. Enjoy your freedom in Hong Kong. Angelina will stand with you!! What!? You need asylum from America? Oh Man. You are over my head~ Most of the insurance products are being sold to Mainland Chinese aiming for money laundering and capital escape. Well, The Insurance companies should lobby to the HK govt. The Govt has failed to protect business interests in this financial hub, failed to uphold the Basic Law, failed HKers in multiple areas. Don’t just blame the HongKongProtests, you know better. LiberateHK
Source: Reuters - 🏆 2. / 97 Read more »