Issue 41 ☞ The layoffs at Spotify
And - Eilish on the red carpet
Elevated News
The layoffs at Spotify
On Monday, Spotify’s CEO, Daniel Ek, informed employees that the music-streaming giant would undergo its third round of layoffs in 2023, reducing approximately 17% of its workforce, or around 1,599 employees. As Ek highlighted in a note, “economic growth has slowed dramatically” compared with 2021 and 2022, “and capital has become more expensive.” Spotify had no choice but to curb its operational costs, Ek continued, in order to meet its financial goals.
Spotify is the most popular streaming service in the world. It has over 150 million subscribers. But despite investing millions in venture capital into podcasting and audiobooks (the service has made expensive deals with Prince Harry and Megan Markle, as well as with Barack and Michelle Obama), it is yet to become profitable. Losses at the company have doubled since 2022; staff downsizing was, perhaps, inevitable. And there have been other disappointing in-house closures, too. On Tuesday, news surfaced of the cancellation of two of Spotify’s best-known podcast series: Stolen, which won a Pulitzer Prize; and Heavyweight, which the New York Times recently named its best podcast of 2023.
Spotify isn’t the only music streaming service struggling. In February, Youtube Music contractors protested against unfair labour practices. Earlier this year, Amazon laid off employees in its own music streaming unit. And around the same time, Block, the Jack Dorsey-led financial services tech firm, instituted an “no more than 12,000 employees” rule, which also applies to the connected music streamer Tidal.
What will happen next? Ek believes the company is now on a journey to efficiency, though, with the cancellation of award-winning podcasts, subscribers have already paid a cost. How long will they stick around?
Elevated News
Eilish on the red carpet
A few days ago, the Grammy-winning singer Billie Eilish spoke to a Variety red carpet reporter about her cover story from the magazine's November issue. In that interview, Eilish candidly shared her feelings about women, expressing deep admiration and attraction toward them. When asked on the red carpet if she had intended to come out during the interview, Eilish responded with laughter, stating, “Girl, no I didn’t, but I kinda thought, Wasn’t it obvious? I didn’t realise people didn’t know.” Her perspective on ‘coming out’ was clear: “I just don’t really believe in it. I’m just, like, ‘Why can’t we just exist?’”
Eilish's experience adds to a growing narrative of celebrities frustrated with the media's excessive focus on their sexuality. She joins the ranks of those who have been 'outed' publicly, such as Kit Connor, who, in 2022, tweeted about being pressured to come out; “I'm bi. Congrats for forcing an 18-year-old to out himself…” And Rebel Wilson, who faced threats from a journalist to reveal her sexual orientation well before she had intended. Wilson explained, “There are levels to telling people,” and emphasised the importance of personal choices in sharing one's journey, and respecting the diverse reactions from different circles. She later shared a landmark post on Instagram, “I thought I was searching for a Disney Prince… but maybe what I really needed all this time was a Disney Princess,”
Eilish's laughter in response to the question of coming out encapsulates the frustration celebrities face with the media's incessant focus on their personal lives. Her candid perspective echoes a collective plea shared by many in the industry. “Why can’t we just exist?”
Certified Recs
What to eat, read and watch this week
Where to eat
Ngon Ngon, a Vietnamese restaurant in Holborn, London, that serves healthy and hearty Viet bowls–a must for the colder days.
What to read
An Atlas of Es Devlin, the first monograph on artist Es Devlin’s genre-defying practice, is an experiential publication encompassing art, activism, theatre, poetry, music, dance, opera and sculpture. Order here.
What to watch
Queendom, a powerful documentary where a queer performance artist in Russia uses their body as a site of resistance against war, police brutality and prejudice.