When Spotify announced its largest-ever round of layoffs in December, CEO Daniel Ek hailed a new age of efficiency at the streaming giant. But four months on, it seems he and his executives weren’t prepared for how tough filling in for 1,500 axed workers would be.
The music streamer enjoyed record quarterly profits of €168 million ($179 million) in the first three months of 2024, enjoying double-digit revenue growth to €3.6 billion ($3.8 billion) in the process.
However, the company failed to hit its guidance on profitability and monthly active user growth.
Edit: Thanks to @Zerlyna@lemmy.world for the paywall-free link: https://archive.ph/wdyDS
Same… not super proud of switching over to YTM but definitely better than throwing money at Joe Rogan through Spotify.
As with video streaming services, after a couple of great years during which I practically gave up self-hosted pirated content now I find myself going back to it as the servers enshitified beyond my tolerance… YTM is my last ditch attempt
We ended up buying a bluray player and buy movies from thrift stores because fuck the noise that is streaming services now.