Spotify earnings: ‘Every day now looks like the weekend’
Illustration by Alex Castro / The Verge
People are changing how they listen to Spotify as a result of the global COVID-19 pandemic, the company announced in its latest earnings release today. Spotify says that it has met its forecasts in the three-month period ending March 31st, but noted that people’s daily routines are changing. “Morning routines have changed significantly,” says Spotify. “Every day now looks like the weekend.”
It makes sense. As more people work and study at home, people don’t have a morning commute to spend listening to Spotify, and there’s less listening occurring through the service’s car and wearable apps. Spotify says this has had a more significant impact on podcasts than music. However, other devices appear to be picking up some of the slack. The...
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