Spotify’s $1 Billion Podcast Bet Turns Into a Serial Drama

Spotify spent more than $1 billion to build a podcasting empire. It struck splashy deals with Kim Kardashian, the Obamas and Prince Harry and Meghan Markle. It paid $286 million for a pair of podcast studios and spent $250,000 and more an episode on exclusive shows to lure new listeners. The bet hasn’t paid off. Most of its shows aren’t profitable, according to people familiar with the matter, and the company has recently cut staff and programming to slow its losses. The company, which has struggled to report consistent profits, lost €527 million, equivalent to about $565 million, in the six months ending in June, on €6.2 billion in revenue.

tips

it strikes splashy deal with sb 和sb达成协议

podcast 播客

serial 连续的

empire 皇帝；帝国

splash 飞溅

episode 集【电视剧】

lure 吸引；诱饵

bet 赌注；投资

pay off 付清；获得回报