Spotify pulls the plugs on ‘Heavyweight’ and ‘Stolen’ podcasts

Audio streaming platform Spotify announced on Tuesday that it will not renew contracts for two popular podcasts, “Heavyweight” and “Stolen,” showing its attempts to cut down on podcasting while struggling with consistent profitability. The shows, produced by Gimlet Media, will have the option to find new homes. Spotify acquired Gimlet Media in 2019. “Heavyweight” was hosted by Jonathan Goldstein and focused on people’s life stories over seven seasons. Connie Walker created “Stolen,” which received the Pulitzer Prize for audio reporting this year for investigating hundreds of Indigenous children in Canada’s residential school system. The move comes as Spotify announced a third round of layoffs in a year, amid economic uncertainties and unfulfilled growth. Nick Quah, writer of HotPod, mentioned that both tech and media companies are maintaining investments in daily or weekly shows, cutting back on series, which are harder to make profitable. Additionally, a 2023 report from Edison research showed that podcasts have more mainstream listeners than ever. The COVID-19 pandemic initially drove much of Spotify’s growth, leading to big investments in podcast companies, but the apparent boon v. faded leaving Spotify with hundreds of millions of dollars worth of product. Eric Nuzum, co-founder of the independent studio Magnificent Noise, noted that Spotify’s business model with subscriptions and advertising led to its uncertainty in serving podcasting. He also criticized Spotify’s decision to keep some podcasts exclusive on the platform, claiming it limited growth potential. Recent moves indicate Spotify is focusing on bringing in celebrities with built-in fan bases to make podcasts successful, such as Bruce Springsteen, Barack Obama, Meghan Markle, and Joe Rogan.

News

Unlikely Industry Player Anguilla Profits Big from A.I. Boom

Artificial intelligence’s integration into everyday life has stirred up doubts and unsettling questions for many about humanity’s path forward. But in Anguilla, a tiny Caribbean island to the east of Puerto Rico, the A.I. boom has made the country a fortune. The British territory collects a fee from every registration for internet addresses that end […]

Read More
News

China Surpasses U.S. in A.I. Talent: A Key Metric

China lags behind the United States in artificial intelligence that powers chatbots like ChatGPT but excels in producing scientists behind new humanoid technologies. New research reveals that China has surpassed the United States as the biggest producer of A.I. talent. The country generates almost half the world’s top A.I. researchers, compared to 18 percent from […]

Read More
News

Brands Brace for Impact as TikTok Faces Criticism

Amid debate in Washington over whether TikTok should be banned if its Chinese owner doesn’t sell it, one group is watching with particular interest: the many brands — particularly in the beauty, skin care, fashion, and health and wellness industries — that have used the video app to boost their sales. Youthforia, a makeup brand […]

Read More