This is Hot Pod, The Verge’s newsletter about podcasting and the audio industry. Sign up here for more. --- After last week’s big deal announcements, Spotify reported its fourth quarter earnings. The company is still operating at a loss, but the margins on podcasting do seem to actually be improving. I have more on that below, plus what it cost for the company to get there. Oh, and still no HiFi. Plus, I’ve got some more Hot Pod Summit programming announcements.
The audiobook vertical has still not quite found its footing and may not unless Spotify gets the upper hand over Apple and its App Store policies. Plus, Ek said that the company is still looking for “efficiencies,” so you know what that means. But the company offered stronger guidance than expected for the first quarter of 2024, and investors are thrilled. As for the podcasting industry, that’s another story.