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YOU WONT BELIEVE: 4 | Mind Blowing Facts

Billionaire Nik Storonsky builds side quant bet to Revolut

Nik Storonsky spent the past decade shaking up banking with his financial services firm Revolut. Now the billionaire former Lehman Brothers trader is looking to pull off a similar feat in venture capital.

Evening Standard

"My original point was not to devalue the time, effort, or resources involved in creating meaningful works": Spotify CEO responds to backlash over comments on cost of making music

"It’s clear I was far too vague in the post, including with my clumsy definition of content. I understand how it came across as very reductive and that wasn’t my intent"

MusicRadar

Spotify’s CEO got roasted by artists after he said the cost of creating content is ‘close to zero.’ Now he’s trying to walk back his ‘clumsy’ remark

In a clarifying post, Daniel Ek said his earlier definition of content was “very reductive.”

Fortune

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Spotify announces price hike, right after CEO enrages music fans by claiming the cost of creating 'content' is 'close to zero'

Just a day after Spotify's CEO claimed that the cost of creating "content" is "close to zero," the music streaming service is engaging US subscribers further with a price hike.

TechRadar

Musicians outraged as Spotify CEO claims the "cost of creating content" is "close to zero": "Our albums took hundreds of hours of human effort, hard work and creativity"

Daniel Ek's comments arrive as Spotify reports record profits of over €1bn in Q1 2024

MusicRadar

Spotify CEO sparks backlash after social media post that claimed the cost of making "content" is "close to zero"

Spotify CEO Daniel Ek touched the collective nerve of the music world by saying it costs almost nothing to make "content"

Metal Hammer

Spotify extends AI lead over Apple Music with AI playlists feature

Spotify is rolling out a new chatbot-based AI playlists option in the UK and Australia.

iMore

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Spotify is reportedly hiking prices again in the UK for the second time in a year

Subscribers may have to pay an extra £19 a year as Spotify looks to claw back its audiobooks investment

Evening Standard

Joni Mitchell's Music Returns To Spotify After Two-Year Absence

Joni Mitchell's music makes a comeback on Spotify after a protest, along with Neil Young's return.

Top News

Finding new artists on Spotify just got harder after layoffs put an end to useful music encyclopedia, and I’m tired of it

Spotify's cost-cutting drive means one of the best third party Spotify sites has lost all access to the service.

TechRadar

Meghan Markle Has Signed a New Podcast Deal 8 Months After Spotify Canceled Their Partnership

And 'Archetypes' is coming back!

Marie Claire

Spotify CEO Daniel Ek thinks his staff are just salaried algorithms

If you’re worried about losing your job to AI, act fast to show you deliver more value than ChatGPT.

Evening Standard

Apple's new policy is a step in the wrong direction" — Microsoft's Xbox chief slams new App Store changes coming to the EU

Microsoft's Xbox president is not happy with the changes coming to Apple's App Store in the EU.

iMore

'Apple's new policy is a step in the wrong direction.' Microsoft, Spotify, decry Apple's 'compliance' with new European app store rules

Apple's malicious compliance with new the EU's Digital Markets Act isn't sitting well with Epic Games, Spotify, or Microsoft. Here's what the companies had to say.

Windows Central

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Fortune

Frustration mounts as Roblox investors await returns on Gen Z metaverse sensation

Even as the platform registers surging growth in users and engagement, CEO David Baszucki has been advised to take a page from Spotify peer Daniel Ek and cut costs.

Fortune

What the sudden exit of Spotify’s CFO says about the skills companies want in 2024

Spotify CEO Daniel Ek seeks a finance chief with experience to support the company's "new phase."

Fortune

Spotify CFO cashed in $9M worth of stock after mass layoffs

The CFO reshuffle comes after boss Daniel Ek announced the company’s biggest-ever layoffs to return to its roots as a lean and scrappy underdog.

The Guardian - UK

Spotify announces CFO to leave, days after he cashed in $9.3m in shares

Paul Vogel moved to sell stock as shares soared after it was revealed 1,500 jobs would be cut

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Fortune

Spotify faces the music after Daniel Ek wields the layoff axe—but is it smart cost-cutting or the beginning of a spiral?

Tight margins, fights with Big Tech, and an uncertain business model likely won’t be solved by the group’s cull of 1,500 workers.

International Business Times UK

Spotify Streamlines Operations: Cuts Nearly 1,600 Jobs Amid Escalating Costs

This is the third and most substantial round of layoffs for Spotify this year, a move attributed to pressure from an activist investor.

Android Central

Spotify cuts 1,500 jobs in another round of layoffs

Spotify is not yet done laying off its employees, with another round of layoffs that cut 1,500 jobs.

Broadcasting & Cable

Happy Holidays? Spotify Conducts TMT's Biggest Layoff of 2023 Despite 11% Q3 Revenue Grow

Ho, ho ho, the stock is at a 12-month high, and the music streaming service just added 23 million subscribers, but 17% of the its workforce, over 1,500 employees, just lost their jobs anyway

International Business Times

Spotify Cuts Around 1,500 Jobs As Growth Slows

Music streaming giant Spotify said Monday it would reduce its number of employees by around 17 percent in a bid to cut costs amid "dramatically" slower economic growth.

WEKU

Spotify to cut 17% of staff in the latest round of tech layoffs

In a memo addressed to staff, CEO Daniel Ek said it was necessary for the company to "rightsize" after hiring too many people during 2020 and 2021. Roughly 1,500 workers are likely to be let go.

Fortune

Spotify to slash headcount after CEO blasts staff for doing 'work around the work'

The founder is billing the company's biggest ever headcount reduction as a strategic return to the resourcefulness that marked its early days as a startup.

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