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Welcome to the Spotify Machine: Podcasts, Audiobooks, Video, Education — And, Yes, Music
Spotify added audiobooks, video and more for price hikes and profitability, helping it maximize value in what Daniel Ek calls “the Spotify Machine."
During Tuesday’s Q2 earnings call, CEO Daniel Ek and interim CFO Ben Kung repeatedly referred to “the Spotify Machine” when explaining the company’s expansion beyond music. As Ek explained, the term means the company “isn’t just a sort of one-trick pony anymore, but it’s actually multiple verticals working together” to create more choice for consumers and drive more engagement. Similarly, concert promoter and ticketing company Live Nation uses the term “flywheel” to describe how its various products and business segments provide momentum for the larger entity.
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