“This drag will not last,” Vogel said, according to a FactSet transcript, adding that podcasting revenue jumped more than 300% in 2021. In the long term, Ek said podcasts could produce gross margins of 40% to 50%. Spotify has sunk more than $1 billion into bolstering its podcasting business, which Ek said has been dragging down the company’s gross margins.īut Chief Financial Officer Paul Vogel said that investment will soon pay off, projecting profitability for podcasts in the next year or two and “meaningful ramp,” with gross margins of 30% to 35% for podcasts, over the next three to five years.
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