Spotify’s big podcasts push is eliciting mixed feelings within the music industry, as our recent survey showed: some people worry that it will draw attention (and revenues) away from music, while others think it will help Spotify grow as a platform and thus grow for its music partners. Analysts, meanwhile, are welcoming the development.
Business Insider reports on the latest research note from Guggenheim Partners’ team of analysts, who think podcasts will give Spotify’s ad revenues a boost. They’re also bullish about the company’s recent growth. “Sequential improvement in app downloads indicates new and returning user growth, a positive trend and supportive of a bullish view that the company’s global addressable market is well in excess of current streaming music subscriber levels,” as their note put it.
Talking of advertising, though, AdAge is reporting that Spotify’s VP global head of ad sales Brian Benedik may be preparing to leave the company this autumn. “It’s unclear where he is going or who will replace him, but Spotify is actively searching for his replacement,” it claimed.