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The sunshine and moonbeams surrounding last week’s Spotify Wrapped celebration has given way to the dark clouds of job loss.

Spotify announced Tuesday that it’s slashing another 1,500 jobs, which is about 20% of its workforce. This is the third round of layoffs at the company this year.

In a letter to employees, CEO Daniel Ek wrote, “economic growth has slowed dramatically and capital has become more expensive. Spotify is not an exception to these realities.”

Despite efforts to reduce costs, Ek said Spotify is still spending too much money. The audio streaming company has been squeezed by slower economic growth as well as interest-rate increases that have made it more expensive to borrow, he said.

“The Spotify of tomorrow must be defined by being relentlessly resourceful in the ways we operate, innovate, and tackle problems,” he said in his letter. “Being lean is not just an option but a necessity.”

Following the news, it was announced Thursday that Spotify CFO Paul Vogel is leaving the company. He will remain in his position until March 31 and an external search for his successor is underway.

“The Spotify of tomorrow…”

I wonder that will look like.

Have a nice weekend!!!!

★ SPOTlight★

⭐️ Spotify to cut global staff headcount by 17%

The decision to tackle the company's cost structure will affect around 1,500 of the 9,000-strong workforce at the streaming giant. Spotify CEO Daniel Ek described it as “a difficult but important day for the company”. 

⭐️ Spotify Wrapped live in London: A Top Of The Pops-style end-of-year celebration at IKEA-turned-superclub Drumsheds

From everyone’s Instagram Stories to the main stage – which was probably put on everyone’s Instagram Stories again.

⭐️ Introducing PlaylistRankings: The Game-Changer in Spotify Playlist Optimization

In the dynamic world of music streaming, the role of Spotify playlists in connecting artists and audiences cannot be overstated. The ability to effectively navigate and optimize these playlists is critical for success. This challenge, however, has often been met with limited solutions, particularly in understanding and enhancing the visibility of playlists within Spotify's complex search ecosystem.

⭐️ Spotify gathers its tools for artists in a new ‘Campaign Kit’

Spotify has been building its collection of marketing tools for artists: playlist submissions, Marquee, Showcase Discovery Mode.

⭐️ 5 things Spotify's fascinating 2023 listening stats tell us

From TikTok’s rising influence on streaming to geographical trends, here are five things that Spotify Wrapped tells us about 2023’s listening habits. 

🗣 Podcasts 🗣

• Spotify Cancels ‘Heavyweight’ and ‘Stolen’ Podcasts

• Sussexes did not expect Spotify to turn down so many ideas

▶️ Playlists ▶️

• How to Combine Playlists on Spotify: The Ultimate Guide

🎧 Streams 🎧

• It Sure Looks Like a Hacking Campaign Messed Up People's Spotify Wrapped

• 5 things Spotify's fascinating 2023 listening stats tell us – including TikTok's growing influence

• Spotify on iOS to Bring Back In-App Purchases, Beta Code Suggests

🎼 Spotify 4 Artists 🎼

• Spotify re-positions two-tier licensing (we are getting closer, and it can be even better)

• Spotify says its upcoming royalty model changes will generate $1B for artists over five years

💡 Tips & Tricks 💡

• How to Copy a Spotify Playlist

⚡️ Ek Notes ⚡️

• Spotify CEO Daniel Ek's Layoff Letter To Staff

• Spotify CEO's Daily Routine: Work Starts at 10:30 a.m.

🤖 Spot(ai)fy 🤖

• Allegedly AI-Generated Metal Music Is Spotted on Spotify

• Spotify and Google Cloud expand tech partnership for AI-led user experience improvement push

🖌 Design 🖌

• Why Spotify's Music Recommendations Are So Accurate

• Spotify Wrapped: Here’s How Spotify Calculates Your Listening Data

💰 Stock 💰

• Spotify CFO Paul Vogel to Step Down

• Spotify jumps after saying it will cut 17% of workforce

🔥 News 🔥

• Spotify UK & Ireland MD Tom Connaughton exits after six years

• Overanalysing our Spotify Wrapped: what MIDiA’s stats say about the industry

• Uruguay president aims for agreement to prevent Spotify shutdown

• Jenny Hermanson, Spotify’s MD for the Nordic region, to exit company after 14 years

• Something’s up with Spotify Wrapped and Burlington, VT

🎵 New Adventures 🎵

Don't You Know Durand Jones & The Indications, Durand Jones, Aaron Frazer

Early Morning Strangers Barry Manilow

Love Is The Drug Grace Jones

Naked Eye Luscious Jackson

Just a Job to Do - 2007 Remaster Genesis

Cussin', Cryin' & Carryin' On Ike & Tina Turner

You Have Killed Me Morrissey

Heaven or Hell Waylon Jennings

Myles Goodwyn, frontman with Canadian classic rockers April Wine, dies aged 75. The band had a string of US and Canadian hits in the 1970s and 80s, including power ballad Just Between You and Me.

I Like To Rock April Wine

Tellin' Me Lies April Wine

Denny Laine, the British singer-guitarist best known for his work with Paul McCartney & Wings and the Moody Blues, has died after a long battle with interstitial lung disease, according to a social media post from his wife. He was 79.

Helen Wheels - Remastered 2010 Paul McCartney, Wings

Let Me Ride Ginger Baker's Air Force

📧 Get in touch 📧

If you have a question, idea, request, or simply a desire to chat about Spotify, please email me at jeff.spotifynewsletter@gmail.com.

😀 Have a Nice Weekend! 😀