During an investor presentation on Wednesday, the company said the program is still in investment mode after bringing in $215 million in revenue.
The episodes of the Alex Jones show were pulled by the streaming service. A picture of the Spotify logo is in the Star Max file.
According to the Hollywood Reporter, the company expects podcasts to be a $20 billion opportunity.
According to Ostroff, the investment in podcasts is starting to pay off.
Daniel Ek, the company's CEO, said the company is using machine learning to encourage users to discover new shows.
Ek believes that the podcasts vertical could have a 40 to 50% gross margin potential.
The CFO said that the revenue for the show increased by 300%.
A million. There are a lot of podcasts on the service.
The Ringer network was purchased by The Ringer network in 2020. Call Her Daddy and Joe Rogan's The Joe Rogan Experience will be distributed by it. At the beginning of the year, Rogan came under fire for having guests on his show that spread misinformation about Covid-19 vaccines during their appearances, as well as making racist remarks. Rogan's show was the most popular on the platform. Several artists pulled their music from the streaming service in protest. The New York Times reported in February that Rogan's show was more expensive than previously thought.
The initial report of Joe Rogan's deal is said to be worth $200 million.
There are more than 100 episodes of Joe Rogan's show on the platform.
Crosby and Stills joined Nash and Young in boycotting the service.
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