The “Spotify machine” focuses less on short-term engagement growth metrics than on increasing the lifetime value of customers - the amount of revenue consumers drive with Spotify over the long term.Why it matters: Ek told Axios in an interview that the company's continued forays into audio businesses outside of music, like podcasts and audiobooks, will boost its long-term profits.ĭetails: “It’s all part of a new strategy that we’re calling 'the Spotify machine',” Ek told Axios. Spotify CEO Daniel Ek on Wednesday laid out plans to reach $100 billion in revenue in the next decade and to push into audiobooks to take on rival Amazon.
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