Merry Christmas to all those families!
Yes, we had record profits but our CEO has the job of raising the share price so that investors can buy and sell higher, so we have to find more profits somewhere.
You understand.
I did notice that the CEO who decided to pay a single podcaster 200 million dollars never got laid off. Same guy whose big expensive bet on several other exclusive podcast deals failed spectacularly.
Well yeah, how else is he going to be able to afford his 9th yacht? Come on, be reasonable now.
Classic that once wrapped is out to everyone they fire a huge amount of there workforce just a few weeks before Christmas. Shows why the streaming model is a sham.
I know the sentiment that you are conveying, and I understand each of the words in your comment individually, but I honestly have no idea what you’re saying here.
This is how I understood the comment:
Wrapped gets Spotify a lot of positive buzz. Layoffs while that buzz happens may get less notice, because people are on the “look at all the neat Spotify numbers” train and essentially advertising good vibes for the platform.
Something that I don’t quite understand about Spotify is why they had the amount of employees that they did in the first place. What were 9000 people doing for work on a music playing and recommendation website. I know they used to be highly innovative and disruptive a long time ago, but has that been the case in recent years? How were 9k people contributing to this already established web music app?
I don’t know how many in that 9000 are actual developers, but you also have to take into account the non-technical corporate employees (accounting, legal, marketing, support, curators, HR, etc.). They also have offices in different countries that most likely have some sort of corporate structure (all of the above roles, just on a smaller scale).
Even if only half of those employees were working on the actual product and product-adjacent roles, it still seems hard to come up with 4500 jobs. In fact I think the number of employees might be what led to a bunch of their missteps over the past many years. Like the multiple interface redesigns that no one asked for and actively disliked.
Yeah, I could imagine their legal department actually making up a sizeable chunk, with how much the music industry loves to sue.
Let’s imagine we have massive departments for each one of those, like 300 people average for each of your example areas. For me it’s insane just thinking about it considering what the product actually is. I’m still left with 7200 people unaccounted for.
I dont get it either. The only explanation to this is that they had humans create spotify wrapped
Mark my words, a Disney style price raise is in the cards, probably before summer 2024
At this point Spotify offers less than competitors with Spotify hi-fi being a bunch of imaginary bullshit. I only subscribe to spotify when they offer me 3 months for the price of one.
Raising prices would be absurd.
They can’t exactly afford to go higher than the round 10 we have a month. It will cost them a lot of customers just from the sheer inconvenience caused by the change in gift cards.
This effect would happen even at just 1 cent above the convenient pricing. That means if they increase the price, they have to make up for the immediate loss of “convenience users” which means higher price again which leads to an exponential spiral.
We are more likely to see ads being forced into Spotify premium.
Given the recent successes of other streaming platforms integrating ads into previously ad free levels, I think you’re right.
A higher price I can stand but ads in a paid service? If they do that, I don’t see any reason why I wouldn’t just use ublock origin with Spotify on the web or a modded APK instead.
So glad I left when they paid Joe Rogan money
I’m sorry, they did what? Out of the loop on this one, but that guy is fucking brain cancer
Spotify paid him to be the exclusive distributor for his “first stop on the alt-right train” podcast. Rumored to have been $200 million.
Even more than that now, and that’s why I will never use spotify again.
These actions have real world CONSEQUENCES, and spotify is starting to see what they are.
I went back to good ol MP3 files about a year ago in an effort to lower montly subscriptions and the tiktokification of spotify was a big reason why.
Radiolemmy.com is also a nice alternative to find music you didn’t know about, the rotation just needs to grow
Not only the rotation, we need more presenters (every single one, including myself has been busy) to air on the station too, because honestly those sessions are peak Radio Lemmy. (please come back psythik we can’t let radio lemmy die)
What do you mean with ‘tiktokification of Spotify’?
I stopped using Spotify at least a few years ago because they started serving adverts to paying customers - so I’m out of the loop.
That should help company morale. I’m so glad these selfless CEOs are always doing the right thing!
Hey just remember those CEOs take more risk eith their capital that’s why they deserve a bigger pay. Unlike these workers that have just been layer off weeks before Christmas, that have the luxury of a low risk reliable job!
Dude, it’s not possible to spend millions on sports deals with FC Barcelona, if you don’t cut peoples jobs away. That’s obviously more important!
Same shit, different corporation. They established sort of a monopoly by lower prices and venture capital. Now they start to collect large amounts of money and go down.
This is the best summary I could come up with:
LONDON (AP) — Spotify says it’s axing 17% of its global workforce, the music streaming service’s third round of layoffs this year as it moves to slash costs while focusing on becoming profitable.
In a message to employees posted on the company’s blog Monday, CEO Daniel Ek said the jobs were being cut as part of a “strategic reorientation.” The post didn’t specify how many employees would lose their jobs, but a spokesperson confirmed that it amounts to about 1,500 people.
Spotify had used cheap financing to expand the business and “invested significantly” in employees, content and marketing in 2020 and 2021, the blog post said.
But Ek indicated that the company was caught out as central banks started hiking interest rates last year, which can slow economic growth.
Ek said the “leaner structure” of the company will ensure “Spotify’s continued profitability.”
Tech companies like Amazon, Google, Microsoft, Meta and IBM have announced hundreds of thousands of job cuts this year.
The original article contains 251 words, the summary contains 161 words. Saved 36%. I’m a bot and I’m open source!
