Spotify now has half a million video podcasts, which nearly 400M users have watched

Spotify has announced a remarkable increase in the popularity of its video podcasts, revealing significant growth in user engagement. During its recent third-quarter earnings presentation, the streaming service disclosed that its catalog of video podcasts has expanded to nearly half a million shows, with over 390 million users having streamed a video podcast on the platform. This represents a staggering 54% increase compared to the previous year, highlighting Spotify's ongoing commitment to this format. In June 2024, Spotify had around 250,000 video podcasts, a number that has surged since the introduction of tools allowing non-hosted podcasters to upload videos. Additionally, the platform now enables users to interact with podcasts through comments, Q&As, and polls, transforming the app into a more social experience. This shift has led to a doubling of the time users spend engaging with video content year-over-year, primarily driven by video podcasts. The consumption of video podcasts has also surged by over 80% since the launch of the Spotify Partner Program in January, which provides qualifying creators with innovative monetization options, including audience-driven payouts linked to Spotify Premium user engagement. Furthermore, Spotify has entered into a partnership with Netflix to broaden the distribution of its video podcasts, starting in 2026 in the United States, with plans to expand into more markets later. While investors were curious about the revenue-sharing agreement, they were more focused on how this distribution strategy would ultimately benefit Spotify. Incoming co-CEO Alex Norström emphasized that positioning Spotify as a central hub for creators would be advantageous. He stated, "We believe that when creators succeed, we succeed. As they optimize their content, it is essential for us to help them reach audiences in as many places as possible." Co-CEO Gustav Söderström further noted that enabling creators to share their work on both Spotify and Netflix presents additional revenue opportunities. He explained, "This aligns with our ubiquity strategy, ensuring that we provide a strong offering for creators while enhancing user experience." Norström also highlighted that featuring Spotify podcasts on platforms like YouTube has increased awareness about the shows, leading to higher usage on Spotify, a trend the company anticipates will continue with its Netflix collaboration. Additionally, Spotify is capitalizing on the TV market with enhancements to its Apple TV app, aiming to increase user engagement across various platforms, which, in turn, supports its advertising business. The company reported an 11% year-over-year increase in monthly active users, totaling 713 million, and a revenue boost to €4.27 billion (approximately $4.9 billion), surpassing Wall Street's expectations. Spotify also recorded a net profit of €899 million (around $1 billion) for the quarter. However, the stock experienced a dip following the earnings call, as investors expressed concerns regarding the company's mixed guidance for the upcoming fourth quarter.