Issue 48  June 12th 2023

Spotify's Podcast Reorganization: Merging Parcast and Gimlet, Resulting in 200 Layoffs

In a significant move, Spotify has announced a reorganization of its podcast business, which will see the merging of two of its acquired podcast studios, Parcast and Gimlet. This decision is part of a larger re-conception of Spotify's podcast segment, aimed at keeping the 'Spotify Machine' in constant motion, as stated by Sahar Elhabashi, VP and Head of Content Business at Spotify.

However, this restructuring comes with a downside. Approximately 200 employees, or 2% of Spotify's workforce, will be laid off as a result of redundancies caused by the merger. Despite the unfortunate job losses, Spotify assures that the affected individuals will receive "generous severance packages".

Gen Z's Podcast Consumption Soars

Gen Z is increasingly listening to podcasts, according to a study by SXM Media and Edison Research. The research shows that 24 million Gen Z listeners tune in monthly, up 57% from five years ago. Time spent listening to podcasts has increased as well, with 58% of spoken-word audio being dedicated to podcasts. One in five Gen Z listeners are Hispanic/Latino, while Black and Asian listeners also represent a significant portion. Three in four have listened to a podcast in the past week, and 78% of respondents binge-listen. Interestingly, 43% have bought a product after hearing it advertised on a podcast.

Buzzsprout and Podium Announce Innovative Partnership

Buzzsprout and Podium have announced a strategic partnership. This partnership will introduce new generative AI features, powered by Podium, for all Buzzsprout customers, including a feature called Cohost AI.

This collaboration will allow Buzzsprout's customers to automatically generate comprehensive show notes, easy-to-navigate chapters, title recommendations, transcripts, and more. The goal is to streamline the post-production process, which can take anywhere from one to ten hours, down to just a few minutes.

Jemele Hill Clarifies She Isn't Leaving Spotify, Despite Rumors

Despite rumors to the contrary, Jemele Hill has confirmed that she isn't leaving Spotify. A recent Bloomberg report suggested that Hill was looking for a new home for her podcasting network, including her show "Jemele Hill is Unbothered". However, Hill took to Twitter to clarify that her "Unbothered" network of podcasts isn't going anywhere.

In her tweet, Hill stated, "A lot of what’s been reported just isn’t true. My podcast hasn’t been canceled. I never asked Spotify for $100M. This sh*t is truly comical." She also listed upcoming guests to her show, indicating that it's business as usual.

Wondery Has Hired Netflix’s N’Jeri Eaton

N’Jeri Eaton, who previously worked for Netflix and Apple Podcasts, has been hired by Wondery to lead co-productions of third-party limited series podcasts. She will manage partnerships and seek out new ones. Eaton has a lot of experience in the podcast world, having been Netflix’s first head of podcasting and helping to create Apple Podcasts’ subscription program for creators. This move comes as Amazon and Wondery are both expanding their podcast businesses, with 10 open positions listed on Amazon’s jobs page.