The Latest Episode of Spotify's For The Record: Earnings, Yearnings And Learnings

 “Spotify: For the Record” is a podcast that shares insights from the music industry and keeps listeners in tune with trends in live audio, streaming and the economics surrounding the industry.

In the latest episode, Spotify CEO Daniel Ek and CFO Paul Vogel discuss Spotify’s Q1 2021 earnings report with Dustee Jenkins, Head of Global Communications at Spotify. 

 Among other topics and recent launches, Ek and Vogel discuss Spotify’s move into live audio with the acquisition of live audio social app Locker Room - with Ek breaking the news that Locker Room will have a new name under Spotify: Spotify Greenroom.

The CEO and CFO also discuss the future of Spotify Greenroom, as well as the recent launch of the Loud and Clear initiative to achieve greater transparency around streaming data, the company’s massive global expansion into 85 new markets in Quarter # 1 (Q1). 

Key Points from the Episode include:

• Spotify reported revenue growth of 16 percent year on year this quarter. , including noting outperformance in subs and ad-supported revenue. 
• To date, Spotify users have created almost 8,000 vaccine-themed playlists.
• Top-performing podcasts from Q1 include: Welcome To Your Fantasy, Black Girl Songbook, Caso 63, and Renegades: Born in the USA. The most-streamed song of the quarter is Olivia Rodrigo’s “Drivers License” which broke a record for the most single-day streams for a non-holiday song on Spotify and had the biggest weekly streaming debut for any song globally in Spotify history. The track has been streamed about 680 million times.
  

During the podcast CEO Elk discusses Live Audio, “The opportunity in live, just from a consumer standpoint, is how can we create really engaging formats to allow these creators to express themselves and connect with their audience. And we've been watching this space from afar just feeling very, very excited about the potential opportunity.”

CFO Vogel discussed Spotify's future goals: "I think it's a way for us to continue to bring more and more creators onto the platform. And the more creators we have on the platform, the more unique, original, differentiated content we have differentiated product. It's going to bring more users."

Hosts Shanon Cook and Kevin Turner also recap some of the most popular new podcasts on the platform from Q1 and highlight some top songs on Spotify users’ vaccine playlists.

 You can listen HERE.