Twisted Sister‘s Dee Snider has hit out at Spotify, suggesting CEO Daniel Ek “should be taken out and shot” for unfairly compensating artists.The streaming platform has frequently come under fire for the low rates at which it pays artists, which has contributed to many artists struggling to make enough money directly from their music. Recently, Spotify controversially changed its royalty streaming threshold of 1000 plays before songs are able to generate royalties.According to Spotify data, there are around 100million songs on the service, yet only around 37.5million meet the new requirements to generate revenue.Snyder’s criticism for the platform and its CEO, who he didn’t refer to by name, came during an interview with the YouTube podcast The Jeremy White Show.“That guy from Spotify, I wanna tell you, he should be taken out and shot,” Snider said (via Consequence of Sound), presumably referring to Ek.
Spotify to Lay Off 17% of Global Workforce
04.12.2023 - 09:59 / variety.com
Ellise Shafer Spotify is laying off 17% of its global workforce in order to cut costs, CEO Daniel Ek said on Monday. According to the Financial Times, Ek made the announcement in an internal memo sent to staff.
“I recognize this will impact a number of individuals who have made valuable contributions,” Ek wrote in the memo. “To be blunt, many smart, talented and hard-working people will be departing us.” Spotify currently employs over 9,000 people globally, meaning the layoffs will impact around 1,500 workers.
Though the music streamer has accomplished steady subscriber growth, boasting 220 million paying subscribers, it has still struggled to become profitable. “Considering the gap between our financial goal state and our current operational costs, I decided that a substantial action to rightsize our costs was the best option to accomplish our objectives,” Ek continued.
CFO Paul Vogel hinted that more layoffs were to come during an earnings call in July. “Q2 was last quarter where we had headcount higher year over year, and we expect our year over year headcount to be down in Q3 — we’ll see where that goes going forward,” he said.
“We’re continuing to be more efficient and feel really good about where we are, so you will see some of that efficiency have even more of an impact in the back half of the year with respect to the op-ex.” Earlier this year, Spotify cut 6% of its workforce and laid off an additional 200 employees in June. As the company has grown, Ek concluded, it has “moved too far away from this core principle of resourcefulness.”
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