Why Spotify Is Struggling to Make Money

WSJ Tech News Briefing

The Wall Street Journal

News, Tech News

4.3 • 1.7K Ratings

🗓️ 22 January 2024

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

Since it was founded in 2006, Spotify has changed the world of music streaming. It has nabbed millions of subscribers—and its 30% market share is twice that of its nearest competitor. But it’s still struggling to make money. WSJ music industry reporter Anne Steele tells host Alex Ossola about the bold new moves that Spotify is making as its leadership sets their sights on profitability. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This episode is brought to you by Shopify.
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0:27.0	Welcome to Tech News Briefing.
0:32.0	It's Monday, January 22nd. I'm Alex Osala for the Wall Street Journal.
0:37.0	Coming up on today's show, Tesla still may be the biggest electric vehicle maker in the U.S, but it's got two competitors right on its heels,
0:45.8	Hyundai and Kia. We'll find out what's behind their competitive advantage and whether they could
0:51.1	overtake Tesla from W.S.J reporter Sean McClain.
0:55.1	And then Spotify has dominated audio streaming.
0:58.7	The company has recently expanded beyond music to stay ahead,
1:02.2	but has struggled to make money.
1:04.3	W.S.J. Music Industry reporter Ann Steele tells us about Spotify's plans for
1:09.3	profitability and how they could impact the streaming business.
1:15.0	But first, Korean automakers Hyundai and Kia have been making a big play in electric vehicles.
1:22.0	They're even challenging market leader
	...

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