{"id":178019,"date":"2023-12-11T02:24:34","date_gmt":"2023-12-11T08:24:34","guid":{"rendered":"https:\/\/lifeboat.com\/blog\/2023\/12\/spotify-slashes-staff-to-move-faster-into-ai-and-wall-street-loves-it"},"modified":"2023-12-11T02:24:34","modified_gmt":"2023-12-11T08:24:34","slug":"spotify-slashes-staff-to-move-faster-into-ai-and-wall-street-loves-it","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2023\/12\/spotify-slashes-staff-to-move-faster-into-ai-and-wall-street-loves-it","title":{"rendered":"Spotify slashes staff to move faster into AI \u2014 and Wall Street loves it"},"content":{"rendered":"<p><a class=\"aligncenter blog-photo\" href=\"https:\/\/lifeboat.com\/blog.images\/spotify-slashes-staff-to-move-faster-into-ai-and-wall-street-loves-it.jpg\"><\/a><\/p>\n<p>Spotify made a name for itself in the audio-streaming business through its hyper-personalized user experience, thanks to artificial intelligence and a team of 9,800 staffers at the end of 2022.<\/p>\n<hr>\n<p>But after three rounds of layoffs in one year: <a href=\"https:\/\/www.cnn.com\/2023\/01\/23\/tech\/spotify-job-cuts\/index.html\">590<\/a> positions in January, <a href=\"https:\/\/www.cnn.com\/2023\/06\/05\/business\/spotify-podcast-layoffs\/index.html\">200<\/a> in June, and another <a href=\"https:\/\/www.cnn.com\/2023\/12\/04\/tech\/spotify-layoffs-third-round\/index.html\">1,500<\/a> this week, Spotify\u2019s investments into AI to boost margins for its podcasting and audiobook divisions look like a complete overhaul in strategy that Wall Street seems confident can work.<\/p>\n<p>\u201cSpotify is leveraging AI across its platform, launching AI DJ,<strong> <\/strong>simulating a traditional radio experience, in 50 additional markets and rolling out AI Voice Translation for podcasts,\u201d said Justin Patterson, equity research analyst at KeyBanc Capital Markets, in a research note. \u201cCoupled with audiobooks rolling out to Premium Subscribers, we believe Spotify has several opportunities to drive engagement and eventually stronger monetization.\u201d<\/p>\n<p>Shares of parent company <a href=\"https:\/\/www.cnn.com\/markets\/stocks\/SPOT\">Spotify Technology SA<\/a> are up more than 30% over the last six months and up more than<strong> <\/strong>135% year to date.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Spotify made a name for itself in the audio-streaming business through its hyper-personalized user experience, thanks to artificial intelligence and a team of 9,800 staffers at the end of 2022. But after three rounds of layoffs in one year: 590 positions in January, 200 in June, and another 1,500 this week, Spotify\u2019s investments into AI [\u2026]<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43,6],"tags":[],"class_list":["post-178019","post","type-post","status-publish","format-standard","hentry","category-business","category-robotics-ai"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/178019","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=178019"}],"version-history":[{"count":0,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/178019\/revisions"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=178019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=178019"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=178019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}