Finance wizards who work for Wall Street made bold predictions about how Spotify would fare in the second quarter, and let’s just say they underestimated the company.

After Spotify announced its fiscal results for quarter two, people were shocked to learn that it had a revenue of $2.91 billion, compared to the $2.85 billion that was initially anticipated. As far as total monthly active users, the number was an impressive 433 million, bumped up from the projected 428 million.

In parallel with their fiscal results, Spotify also reinforced its dedication to promoting podcasts. Podcasts have been a knight in shining armor that has helped Spotify soar throughout an otherwise tumultuous business period.

Logically, this makes sense. While most songs clock in at around three or four minutes, most podcast episodes can go up to 30 or 40 minutes in length—and that’s being conservative. As a result, popular podcasts have been incredible assets to Spotify’s ad revenue stream.

Finance analysts will take note of Spotify’s recent surge, but it will interesting to see if the music streaming platform continues to surprise us in the future.

The post Spotify Stock Climbs After Unexpected Revenue Surge appeared first on theprimarymarket.com.

Conal Byrne, iHeartMedia Digital Audio Group CEO, had this to say on the matter: “I swear it still feels like podcasting is just getting started.”

Her opinion has much weight due to the fact that iHeartMedia is the world’s largest publisher of podcasts, with over 750 original shows and 431 million downloads.

The most popular podcasts, according to Byrne, have usually been geared around true crime, sports, and comedy. But she says that lately people have become obsessed with podcast hosts simply rewatching their favorite shows and reflecting on episodes.

For instance, Office Ladies is a podcast run by Jenna Fischer and Angela Kinsey, former stars of NBC comedy The Office. Each episode of the podcast involves them reflecting on a different episode on the show, and they often invite other castmates to interview. Another example is The Always Sunny Podcast, hosted by Rob McElhenney, Glenn Howerton, and Charlie Day, the co-founders, writers, and stars of dark comedy sitcom It’s Always Sunny In Philadelphia.

From a business perspective, Byrne seems very excited over the shift, believing that it’s “driving community in a whole new way through podcasting that we didn’t predict but has just exploded,” and that it’s also “just now dipping its toe in the water.”

The post TV Rewatch Podcasts Take Unexpected Rise appeared first on theprimarymarket.com.

Finance wizards who work for Wall Street made bold predictions about how Spotify would fare in the second quarter, and let’s just say they underestimated the company.

After Spotify announced its fiscal results for quarter two, people were shocked to learn that it had a revenue of $2.91 billion, compared to the $2.85 billion that was initially anticipated. As far as total monthly active users, the number was an impressive 433 million, bumped up from the projected 428 million.

In parallel with their fiscal results, Spotify also reinforced its dedication to promoting podcasts. Podcasts have been a knight in shining armor that has helped Spotify soar throughout an otherwise tumultuous business period.

Logically, this makes sense. While most songs clock in at around three or four minutes, most podcast episodes can go up to 30 or 40 minutes in length—and that’s being conservative. As a result, popular podcasts have been incredible assets to Spotify’s ad revenue stream.

Finance analysts will take note of Spotify’s recent surge, but it will interesting to see if the music streaming platform continues to surprise us in the future.

The post Spotify Stock Climbs After Unexpected Revenue Surge appeared first on theprimarymarket.com.

Conal Byrne, iHeartMedia Digital Audio Group CEO, had this to say on the matter: “I swear it still feels like podcasting is just getting started.”

Her opinion has much weight due to the fact that iHeartMedia is the world’s largest publisher of podcasts, with over 750 original shows and 431 million downloads.

The most popular podcasts, according to Byrne, have usually been geared around true crime, sports, and comedy. But she says that lately people have become obsessed with podcast hosts simply rewatching their favorite shows and reflecting on episodes.

For instance, Office Ladies is a podcast run by Jenna Fischer and Angela Kinsey, former stars of NBC comedy The Office. Each episode of the podcast involves them reflecting on a different episode on the show, and they often invite other castmates to interview. Another example is The Always Sunny Podcast, hosted by Rob McElhenney, Glenn Howerton, and Charlie Day, the co-founders, writers, and stars of dark comedy sitcom It’s Always Sunny In Philadelphia.

From a business perspective, Byrne seems very excited over the shift, believing that it’s “driving community in a whole new way through podcasting that we didn’t predict but has just exploded,” and that it’s also “just now dipping its toe in the water.”

The post TV Rewatch Podcasts Take Unexpected Rise appeared first on theprimarymarket.com.