Podcast growth
Spotify was upbeat about the prospects of its podcast offering:
“We continue to see exponential growth in podcast hours streamed (39% Q/Q for 3Q19), albeit off of a small base. Podcast adoption has reached almost 14% of total MAUs. The U.S. accounts for the largest share of podcast streams but share of listening is higher and growing faster in several European countries. Podcast engagement is clearly a growing global phenomenon.
“For music listeners who do engage in podcasts, we are seeing increased engagement and increased conversion from Ad-Supported to Premium. Some of the increases are extraordinary, almost too good to be true. We’re working to clean up the data to prove causality, not just correlation. Still, our intuition is the data is more right than wrong, and that we’re onto something special. So expect us to lean into our early success with podcasting and to share more insights with you when we’ve established causality.
“We continue to ship updates to our podcast experience, and now have more than 500,000 podcast titles available on the platform. Q3 saw the launch of 22 original and several other exclusive titles from Spotify Studios such as The Ringer: The Hottest Take and The Conversation with Amanda de Cadenet in the U.S. We also announced the release of a number of Gimlet and Parcast originals, including Gimlet’s The Clearing and The Journal, as well as Natural Disasters, Medical Mysteries, and the Summer of ‘69 from Parcast Studios. We are continuously working to expand our global podcast library with the introduction of El Primer Café in Colombia, and London, Actually in the UK.”
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