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That’s what CEO Daniel Ek told investors when the company reported quarterly earnings today. The company has 3.2 million podcasts on its platform including superstars Joe Rogan, Dax Shepard and Alex Cooper (Call Her Daddy).
The Ringer, Parcast and Gimlet are all part of the Spotify podcast division. Ek said the company was ahead of its plans for podcast monetization and he bragged that Spotify is the top podcast listening platform in over 60 countries.
On the earnings call, Ek said that podcast ad revenue in Q2 grew 627% year-over-year, or 200% on an “organic basis.” He did not disclose actual podcast revenue figures. The company would only say that podcast ad revenue helped boost company revenue by 75%.
Overall, Spotify posted a $2.3 million profit in the quarter on revenue of $2.9 billion. Advertising revenue was $375 million.
Spotify now has 175 million paying subscribers, up from 165 last quarter.