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Business Daily

Business Weekly

Business Daily

BBC

Business

4.4816 Ratings

🗓️ 5 February 2022

⏱️ 50 minutes

🧾️ Download transcript

Summary

On this edition of Business Weekly, we’re looking at Spotify’s latest results, and hearing how it has had to react to controversy surrounding its star podcaster, Joe Rogan. We hear from music industry writer Eamonn Ford, who tells us how the service is expanding more into the spoken word, and how it will now have to editorially manage the content it acquires. The Winter Olympics has now officially started, and we hear how some people would like sponsors to be more politically active, when choosing where to place their money. The mining giant Rio Tinto has pledged to take on board all the recommendations from a damning report that said racism, sexual harassment and bullying were rife at its sites. We hear from ABC’s Peter Ryan how this could be the ‘Me Too’ moment for the mining industry. Also on the programme, we hear how Wordle’s creator has decided to sell his five-letter game to the New York Times, and if the puzzle’s fans will be happy to turn to the newspaper’s website instead. The BBC’s Mike Johnson delves into the world of up-and-coming African music and hears how major record labels are opening their wallets and taking notice of the genre. And a billion year old rock is up for sale at a London auction house. Known as the Enigma, the rare black diamond is thought to be the largest cut diamond on earth and could have extra terrestrial origins. We hear from Nikita Benani, a jewellery specialist at Sotheby’s. Business Weekly is presented by Sasha Twining and produced by Matthew Davies.

Transcript

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0:00.0

Hello and welcome to Business Weekly with me, Sasha Twining.

0:08.0

As always, we've got a real varied mix for you.

0:10.5

On this edition, we'll hear why the time is now for African music

0:14.4

and how major record labels are opening their ears and their wallets to get on board.

0:20.4

Plus, on this Olympic weekend,

0:22.6

we hear how events off the rink and the slopes are making news,

0:27.2

with calls for sponsors to be more politically aware

0:30.2

when they get involved in the games.

0:32.4

But we're going to start the programme with Spotify,

0:35.1

the music streaming giant.

0:37.2

Well, I say music streaming, but lately it's

0:39.2

been broadening its offering to spoken audio podcasts as well. Now, the company released their

0:44.8

latest set of figures midweek, showing revenue was up, but subscriber numbers were slowing. And as

0:52.1

the result, shares fell at one point by 29% before recovering slightly.

0:58.0

Now, Spotify have said that the outlook is subject to substantial uncertainty due to the pandemic.

1:04.0

Now, these latest figures relate to the period before the controversy over this man.

1:10.7

Train by day, Joe Rogan podcast by night.

1:15.5

Yes, Joe Rogan.

1:17.3

Now, he has an exclusive deal with the streaming service, rumoured to be worth

1:21.5

around $100 million.

1:24.3

It's a lot of money, but he pulls a lot of listeners around 11 million to every episode.

1:30.8

However, Spotify has now had to agree to post advisory warnings on any podcast discussing COVID

...

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