Spotify went public via a direct listing in 2018. ![]() On Wednesday, CFO Paul Vogel urged investors to stay with it, saying even though margins will continue to be negatively impacted in 2022, he expects the podcast segment to become profitable in the next “one to two years.” The hefty investment came with a €103 million negative impact on gross margin during 2021, which may have impacted investor sentiment. The company expects this to increase “materially” in 2022. To that end, after months of vaguely referring to positive performance in its recent earnings reports, the company released its first revenue figure Wednesday for its $1 billion podcast expansion, with chief content and advertising business officer Dawn Ostroff noting podcasts brought in “close to” €200 million, or about $215 million by current conversion rates, in ad revenue. “I can confidently say that this model in its totality is doing way better than you think,” he said. Podcast Advertising Sees Slowdown in 2022, Even as Growth Rate Outpaces Other Digital Mediums
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