That’s partly why Spotify has gone on a buying binge in the space in recent years, including snapping up such podcast creators as The Ringer, Gimlet Media and Parcast. After all, podcasting is “not yet profitable,” but has a 40 to 50 percent gross margin potential longer-term, he touted. “What’s been dragging it down is our move into podcasting,” Ek explained of its gross margin, vowing that losses would peak this year, which should help change the narrative. Spotify usually reports companywide figures, which include investment-heavy emerging businesses. With new disclosures, Ek touted that the latter was the case, sharing that the company’s traditional core music business is “doing much better than you think,” with a gross margin of about 28.5 percent, above the company’s overall margin and “significant progress in reaching our 30 to 35 percent long-term goal.” (Among rivals, Apple reached a gross margin of 43.8 percent in the final calendar quarter of 2021.)
Spotify Takes Aim At Apple Over Audiobooks Launch on App Store
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