Spotify (and Audioboom) post profit

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Spotify published its Q2 2024 results. As part of a record high $297mn quarterly profit, the company reported improved podcast profitability, “driven by growth in impressions sold across Original and Licensed podcasts and the Spotify Audience Network”. The company says it has more than 6 million podcasts.
- Spotify’s monthly active users grew 14% year-on-year, but missed targets by 5mn.
- A reminder that Spotify for Podcasters has a free masterclass on Thursday about how to use video.
- More from Daniel Ek about the benefits of video podcasting below.

Audioboom published its H1 2024 results. eCPM (revenue per 1,000 downloads) was up 38% in Q2. Revenue is up 7% in total, and adjusted EBITDA profit is $0.3mn.
- CEO Stuart Last estimates that the changes in Apple’s iOS 17 update have cost them $9mn in revenue. Earlier in the year, Acast had put its iOS 17 costs at $7.2mn.

More keynote speakers at the upcoming Podcast Movement in August. Ira Glass is the iconic voice behind This American Life, and will join NPR’s Wild Card host Rachel Martin on stage. Additionally, a new edition of The Podcast Landscape will be shared on stage. Use code PODNEWS to save on passes.

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