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Spotify reported its first profitable quarter in more than a year on Tuesday, after subscription price hikes, lay offs and marketing budget cuts helped boost revenues and operating income for music streaming and podcasting giant.
Spotify reported revenues for the third quarter rose 11% to 3.4 billion euros ($3.6 billion), and operating income over 32 million euros ($34 million). The company beat its growth guidance on both monthly active users and subscribers, adding 23 million monthly active users, a 26% uplift, for a total of 574 million compared to the year ago period. The number of premium subscribers rose by 6 million, or 16%, to 226 million from the year ago period.
The company said that the uptick in revenue is due to the early effects of its $1 price hike on premium individual plans and a rebound in the ad market, as improving podcasting trends and lower operating expenses after January’s company-wide cost cuts helped operating income turn a 1% profit.
The company told investors they could expect total monthly active users (MAU) and premium subscribers to continue to grow for the rest of the year–by 27 million net new MAUs and 9 million new subscribers in the fourth quarter 2023–which is expected to boost total revenues by 3% and gross margin by 0.2%.
Spotify reported a free cash flow of 216 million euros for the quarter, up from 25 million euros a year ago. As of Sept. 30, the company says it employed 9,241 full time employees worldwide, down from roughly 9,800 at the end of 2022.
Spotify has been managing a reboot of its podcasting strategy this year, moving away from the hundreds of millions of dollars acquiring podcast start-up and programing under former Chief Content Officer Dawn Ostroff. Spotify now hosts over 100 million tracks, 5 million podcasts titles, and 350,000 audiobooks.
The company also benefitted from a rebound in ad-supported revenue, which rose 16% to 447 million euros ($475 million), helped by a 20% uptick in music. “Podcast advertising revenue growthremained in the healthy double-digit range,” according to a Spotify release.
Monthly active users rose by 26% to 574 million, compared to the third quarter 2022, beating guidance by 2 million.
The number of subscribers rose by 16% to 226 million from the year ago period, also ahead of guidance by 2 million.
Ad-supported monthly active users rose by 32% to 361 million from the year ago period.
Total revenue rose 11% to 3.36 billion euros ($3.57 billion) from 3.04 billion euros ($3.2 billion).
Revenue from preimium subscriptions rose by 10% to 2.9 billion euros ($3.08 billion).
Revenue from ad supported users rose 16% to 447 million euros ($475 million).
Operating income was 32 million euros ($34 million), bosted by higher gross margin and lower personnel and marketing costs.
The company’s gross margin was 26.4%, compared to 24.7% in the third quarter 2022.
Going from the underground to Michael Jackson-level fame overnight is mind-melting for anyone. But for the scruffy 20-something punk rockers in Nirvana it was even more disorienting, and life-changing than they could have ever imagined.
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In an exclusive Billboard preview of next week’s episode of the Conan O’Brien Needs a Friend podcast, the former late night talker sits down with living Nirvana members drummer Dave Grohl and bassist Krist Novoselic to discuss the effects of going from touring in a van to topping the charts.
O’Brien notes that there was just a three-day gap between when Nirvana’s second, and final, major label album, In Utero, dropped in September 1993 and the kick-off of his original late night talk show on NBC, Late Night With Conan O’Brien. “I remembered the music on the album — because I was such a huge fan — being background music to the terror and the weirdness of me starting a late night show from complete obscurity,” says O’Brien, who is also joined by In Utero producer/engineer Steve Albini for the chat celebrating the album’s 30th anniversary.
“That’s similar to the Nirvana experience I would imagine,” says Grohl, who recalls that he was just 21 when the band suddenly became massive in 1991 upon the release of their axis-tilting major label debut, Nevermind; Novoselic was 25, Cobain was 24. “We were kids and so when you talk about the amount of time that’s gone by to me it’s not even so much about the years, it’s about the experiences that just kind of led, one after another, going from three kids that were basically living or touring out of a van to then becoming a huge band.”
Grohl says that the divisive 1993 follow-up turned into the “uncomfortable soundtrack” to that transition from obscurity to intense scrutiny, with the band living in a totally “different world” during the sessions for that album than they were just 16 months earlier.
Trying to put the leap into perspective, Novoselic says that Geffen Records had such modest expectations for Nevermind that it initially printed only 50,000 CD copies. O’Brien adds that he spoke to someone who worked at the label at the time who noted that when the album with “Smells Like Teen Spirit” as its lead single blew up Geffen had to stop printing copies of titles by all its other artists to go full-born on Nevermind.
The three-year period between when Nevermind dropped and singer Kurt Cobain‘s death by suicide in April 1994 felt like “10 years,” according to Novoselic, with Albini putting a button on the chaotic whirlwind by describing how Nirvana went from being “couch surfers to being the biggest band ever in the world” in a span of 18 months.
The problem, O’Brien posits, is that Nirvana came out of the punk scene, where he suggests that flossy displays of wealth and success were considered anathema to the ethos of the DIY culture. Albini, however, pushes back against what he says is a notion often espoused by those outside the scene that punks consider success to be “bad and evil.” It’s worth noting that Cobain was an avowed admirer of he Beatles and that the retro video for the Nevermind single “In Bloom” was an homage to Beatlemania.
“I have never experienced that genuinely from anybody in the punk scene that wasn’t purely an expression of jealousy,” Albini says, adding that, for the most part, Nirvana’s fans wanted them to become successful and beloved. O’Brien clarifies that he was thinking more of the immense pride the band had in topping the charts — Nevermind went from selling 6,000 copies in its first week to hitting No. 1 on the Billboard 200 album chart in January 1992, pushing Michael Jackson’s Bad from the top spot — combined with a WTF? feeling from the band at their historic ascent.
“Before we made the record Nevermind we were pretty much living in squalor,” says Grohl, describing the tiny “f—ing disgusting” apartment he shared with Cobain that was covered in corndog sticks and cigarettes. “I would have done anything to have my own apartment and to be able to do that through making music.”
And, to be fair, the Foo Fighters frontman says he didn’t have $1 million in his bank account overnight when success came, but rather suddenly his per diem was a lordly $15 per day, enough for two packs of cigarettes. Grohl also says he didn’t feel conflicted or harbor any shame in helping to pay off his mother’s house or buying her a car with his newfound cashflow.
“I think the reason why I didn’t feel personally conflicted was because I knew the band hadn’t done anything outside of our true selves to get there,” Grohl says.
The full interview with the trio will debut on Monday (Oct. 23) on the Conan O’Brien Needs a Friend podcast, with an extended version including music slated to debut that same day at 6 p.m. ET on SiriusXm’s Lithium (channel 34); additional broadcasts (all ET) will take place on Oct. 23 at 9 p.m.; Oct. 24 at 10 a.m.; Oct. 25 at 12 a.m. and 1 p.m.; Oct. 26 at 5 p.m.; Oct. 27 at 8 a.m. and 8 p.m.; Oct. 28 at 2 p.m. and Oct. 29 at 6 a.m. and 6 p.m.
Watch the preview of Grohl, Novoselic and Albini on Conan O’Brien Needs a Friend below.
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Suge Knight might be in prison but the Death Row Records mogul is still calling shots from the inside. A new report reveals that Suge Knight will be launching a new podcast and will be aiming some strong barbs at those who have taken shots at him during his time behind bars.
TMZ Hip Hop exclusively reports that Suge Knight, 58, is partnering with Breakbeat Media co-founder and founder of The Source Dave Mays for the new podcast. Titled Collect Calls With Suge Knight, the program promises to feature Knight speaking on the likes of Snoop Dogg, Wack 100, P of Quality Control Music, and more.
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Dave tells us they’ve already stashed about 5 episodes containing half-hour conversations each ahead of the pod’s official Halloween ’23 launch.
As for topics covered — we’re told Suge won’t leave much unturned when it comes to hip hop — responding to the legions of artists/hip hop pundits who have been using his name for headlines and expanding on his thoughts of Snoop Dogg owning the Death Row brand.
The show will air weekly on Thursdays for the audio portion with the video version releasing on Fridays.
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Juliana Hatfield made a name for herself in the era of ‘90s college rock with hooky, pop-laden rock songs that comfortably fell outside of the mainstream. Now, Hatfield is about to release an album of covers of one of the most celebrated mainstream pop bands of the ‘70s and ‘80s, Electric Light Orchestra.
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For Hatfield, ELO’s orchestral, multi-layered sound — a signature of its primary member, Jeff Lynn — has been an attraction since before she became a musician. “Growing up, ELO songs would come on the radio, and I was always mesmerized by the sound,” Hatfield tells Billboard’s Behind the Setlist podcast. “ELO just lit up the radio.”
Juliana Hatfield Sings ELO, out Nov. 17, is her seventh album for American Laundromat Records and the third of cover songs following tributes to Olivia Netwon-John in 2018 and The Police in 2019. “It’s like an escape back to a more innocent time,” Hatfield says of recording the cover songs. “I was full of hope back then. And the mystery and the magic of music was first enveloping me and I was just very excited about it. So when I’m playing these songs and singing the songs of The Police or ELO or Olivia Newton-John, I think part of it is I’m trying to recapture some kind of magical, innocent love of music. And it works. I’m getting those feelings back.”
Ahead of the album’s release, American Laundromat Records has released three tracks that are among ELO’s most popular and successful songs: “Telephone Line,” “Can’t Get It Out of My Head” and “Don’t Bring Me Down,” which reached No. 4 on the Billboard Hot 100 in 1979. The 10-track ELO album delves deep into the band’s repertoire and includes such songs as “Bluebird is Dead” from 1973’s On the Third Day and “Sweet Is The Night,” a deep cut from the 1977 album Out of the Blue that peaked at No. 4 on the Billboard 200 albums chart. Two additional songs, “I’m Alive” and “When I Was a Boy,” released as a separate 7” vinyl single.
“When I was choosing songs for the album, I definitely wanted to focus on some of the really well-known, catchy ones like ‘Telephone Line’ and ‘Don’t Bring Me Down’ just because they’re such great constructions and they’re so fun and well made. But then I wanted to highlight some of the more obscure stuff that maybe people hadn’t heard of like the later albums, like the Zoom album [from 2001] has the great song, ‘Ordinary Dream’ on it.”
Hatfield will begin a string of headlining shows beginning at City Winery in Pittsburgh on Oct. 4 and ending at POP in Providence, R.I., on Oct. 14. Performing the songs live requires Hatfield to translate ELO’s Phil Spector-like “wall of sound” production to a more modest setting. In concert, Lynn’s ELO has a full band — including strings and backing vocals — to bring the familiar recordings to life. Hatfield has less to work with. “It’s difficult to play,” she says. “It’s difficult to get my head around. How do you play an ELO song live when there’s so many layers on the recording? My recordings of ELO songs are slightly stripped down compared to ELO. I don’t have an orchestra or even the string quartet.”
She figured out some workarounds, though, such as substituting keyboards for strings and singing some of the string parts. Hatfield got a helping hand at some recent shows from some backup singers, including Kay Hanley, the singer for the band Letters to Cleo. “You need some extra vocals for sure,” Hatfield says.
Listen to the entire interview with Juliana Hatfield at Spotify, Apple Podcasts, iHeart, Amazon Music, Audible, Scribd.
Travis Kelce knows exactly how this works. After 100% more people cared about football this weekend thanks to Taylor Swift showing up to cheer on the Kansas City Chiefs (and, of course, Kelce) on Sunday, the KC star teased that he might spill the beans on whether, as rumored, he’s the man in Tay’s life the on this week’s episode of his New Heights podcast with brother and fellow NFL player Jason Kelce.
Or not. Because as of Wednesday morning (Sept. 27) there were only 21 seconds of the pod to pore over like the Zapruder film until the full episode drops later in the day. “We’ve been avoiding this subject out of respect for your personal life – now we’ve got to talk about it,” older brother Jason teased.
“My personal life that is not so personal,” Travis joked about the intense scrutiny he’s been under since Swift donned the red and white and whooped it up in a skybox next to the Kelce’s mom, Donna. “I did this to myself Jason, I know this,” he added.
And though two-time Super Bowl winner and eight-time Pro Bowler Travis has plenty to brag about on the field, Jason knew exactly how to ding his little bro where it hurts. “Well Trav, how does it feel that Taylor Swift has finally put you on the map?” he asked.
Though neither Kelce nor Swift have publicly commented on rumors that they are dating, the singer’s presence at Sunday’s game has revved up a titanic hype machine, with breathless coverage from the sports press, mainstream media and even typically taciturn New England Patriots coach Bill Belichick to crack a joke about the reported romance.
“Travis Kelce has had a lot of big catches in his career — this would be the biggest,” he joked on The Greg Hill Show when asked about the new NFL “power couple.” In addition to getting her LFG on at the game, Swift was later seen leaving Arrowhead Stadium with Kelce, driving off in his convertible.
Kelce revealed in July that he went to Swift’s Eras Tour date at Arrowhead earlier this summer and tried unsuccessfully to slip her a friendship bracelet with his phone number on it. Not long afterwards, rumors emerged that the two were seeing each other, with brother Philadelphia Eagles center Jason jokingly last week in an interview that the dating rumors were “one hundred percent true.”
Watch the New Heights teaser below; the full episode is slated to drop at 9:30 a.m. ET
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Will Smith is poised to explore a key year in Hip-Hop with a new original podcast on Audible featuring Queen Latifah, Chuck D, and more legends.
The Hip-Hop pioneer and actor Will Smith announced that the launch of a new podcast titled Class of ’88, last Thursday (Sept. 21). The podcast will explore rap music during 1988, a year which saw the ascension of Public Enemy as well as the growth of DJ Jazzy & The Fresh Prince along with the rise of women rappers such as Queen Latifah and Salt-N-Pepa.
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In the trailer, Smith begins: “Today, Hip-Hop dominates pop culture but it wasn’t always like that. Before 1988, people saw our music as a passing fad.” The eight-episode series will have Smith sit down and talk with Queen Latifah, Chuck D of Public Enemy, Darryl ‘DMC’ McDaniels, his bandmate DJ Jazzy Jeff, Rakim and Salt-N-Pepa.
Class of ’88 is produced by Audible along with Smith’s Westbrook production company. The podcast network Wondery as well as podcast production company Awfully Nice are also involved in the making of the series.
The focus of the series is notable, as 1988 was the year that Smith and DJ Jazzy Jeff became renowned on the scene with their chart-topping song “Parents Just Don’t Understand.” The track from their second album He’s The DJ, I’m The Rapper would earn them a Grammy Award for Best Rap Performance. The duo were not on hand to receive the award as they took part in a boycott of the Grammys along with other rap artists due to the inaugural performance not being televised.
“Hip-hop has been a central part of my life for over four decades,” Smith said when contacted by Billboard. “I’m hyped to share my first-hand experiences and those of some of hip-hop’s greatest legends as we delve into the origins of one of the most influential genres of music in history.”
Class of ’88 will be available to listeners on Audible and Amazon Music beginning October 26. Amazon Prime members can also stream the podcast without ads. Check out the trailer above.
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Xzibit is taking his talents to the podcast game. He and Tammy the Cannabis Cutie will launch their new series Lasagna Ganja.
As spotted on Deadline the West Coast legend will be lending his signature voice to a new venture that is set to entertain and enlighten listeners on the green leaf. According to a formal press release Lasagna Ganja will delve “into all the layers of the multifaceted cannabis world, from the complicated history and misconceptions of cannabis and the plant’s influence and impact on culture, music, entertainment and more, to the latest trends, scientific breakthroughs, and political issues.”
The “What’s The Difference” rapper detailed his enthusiasm in a statement. “Cannabis has been a major part of my life, in my professional pursuits and my personal consumption. This series is a powerful platform to educate listeners and unpack the many misconceptions about cannabis, and also a way to share my personal journey into the cannabis industry” he said.
This is not the first time Mr. X To The Z has dabbled in the cannabis industry. Back in 2020 he launched his flower brand NAPALM. The Lasagna Ganja podcast is set to premiere on October 5. You can listen to the audio trailer here.
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Cam’ron and MA$E are proving yet again there are levels to their hit show. O.J. Simpson is the latest guest on It Is What It Is.
As spotted on HipHopDX the popular sports series has extended an invite to the former football great. Joining virtually The Juice spoke to the the two rappers for almost 20 minutes about a variety of topics relating to the NFL. As expected he showed immediate support towards the running backs and made it clear the players in that position should be afforded different consideration given their impact and contribution.
“Eliminate the franchise tag for the running backs,” he said. “You can’t make them subject to the franchise tag. We have the Constitution, the greatest piece of legislation ever written, but we have amendments” he added. “They [the NFL] got to do something to rectify this inequity.” When asked about some of his favorite running backs playing currently he mentioned a select few including Saquon Barkley, Nick Chubb, Derrick Henry, Dalvin Cook and Christian McCaffrey.
He went on to put added respect on Saquon’s name saying “I often tell people… you put us in the same situation, the only guys I’d be competing with are Barry Sanders, Gale Sayers and maybe Eric Dickerson,” O.J. Simpson said. “I would certainly throw Barkley into that argument.”
You can watch Cam’ron, MA$E and O.J. Simpson chop it up; no pun intended below.
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Before he was a chart-topping rapper-turned-rockstar, Post Malone was just a kid who got his alias from a rap name generator and was bullied throughout school for his “weirdo” personality.
On the latest episode of Alex Cooper’s Call Her Daddy podcast, the “Circles” singer opened up about his humble beginnings growing up in upstate New York, sharing he used to picked on quite a bit by his classmates. “I’ve always been kind of an introverted kid,” he explained. “I loved to express, I love making music forever, I love playing games. Weird, a little weirdo.”
“I moved when I was nine, and then I used to get bullied a whole bunch in school,” he continued. “I guess for dressing the way I did. We wore skinny jeans and all that stuff, and that was just kind of like a new deal. I don’t know. And people’d throw gum in my hair… Kids are mean.”
On another note, when asked which of his famous tattoos he’d remove, Post replied, “For my mommy, something on my face.”
The 28-year-old artist is fresh off the Friday (July 28) release of his new album Austin, named after his own real first name (Post is actually his legal last time, and as he shared with Cooper, “Malone” was suggested by an online generator). He’s currently in the middle of a global trek dubbed the If Y’all Weren’t Here, I’d Be Crying Tour. Just after recording his Call Her Daddy episode, he performed in Boston and brought out his “Dial Drunk” collaborator, Noah Kahan, for a surprise performance.
The “Sunflower” musician also touched on his relationship to alcohol and misconceptions that he’s on drugs, both of which he spoke about previously in a recent interview with Apple Music 1’s Zane Lowe. “Everybody thinks I’m on drugs,” he told Cooper. “I am not on drugs. People can see me on stage and they might take my dance moves, people are like, this is what meth looks like… like I’m not on meth.”
Listen to Post Malone’s full Call Her Daddy interview here.
According to TMZ, Ariana Grande and her husband Dalton Gomez have been separated since January and are heading toward divorce. They tied the knot in May 2021. With ‘Speak Now (Taylor’s Version)’ reaching No. 1, Taylor Swift achieves her 12th No. 1 album on the Billboard 200 and surpasses Barbra Streisand for the most chart-toppers […]