When Spotify announced its largest-ever round of layoffs in December, CEO Daniel Ek hailed a new age of efficiency at the streaming giant. But four months on, it seems he and his executives weren’t prepared for how tough filling in for 1,500 axed workers would be.

The music streamer enjoyed record quarterly profits of €168 million ($179 million) in the first three months of 2024, enjoying double-digit revenue growth to €3.6 billion ($3.8 billion) in the process.

However, the company failed to hit its guidance on profitability and monthly active user growth.

Edit: Thanks to @Zerlyna@lemmy.world for the paywall-free link: https://archive.ph/wdyDS

  • T00l_shed@lemmy.world
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    6 months ago

    Yup I canceled my sub when they went exclusive with Joe Rogan. I’m not spending a penny to support that douche canoe.

    • exanime@lemmy.world
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      6 months ago

      Same… not super proud of switching over to YTM but definitely better than throwing money at Joe Rogan through Spotify.

      As with video streaming services, after a couple of great years during which I practically gave up self-hosted pirated content now I find myself going back to it as the servers enshitified beyond my tolerance… YTM is my last ditch attempt

      • T00l_shed@lemmy.world
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        6 months ago

        We ended up buying a bluray player and buy movies from thrift stores because fuck the noise that is streaming services now.

      • T00l_shed@lemmy.world
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        6 months ago

        Well he is a vaccine skeptic for one. And perhaps I don’t hate Joe himself but his platform is full of misinformation that is taken at face value. He has guests on the show that people take as experts when they aren’t. His dude-bro audience takes what he says as gospel and just makes things worse.