Spotify overtakes Apple as top US podcast platform: Report

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San Francisco, Oct 28 | Music streaming giant Spotify has reportedly surpassed tech giant Apple to become the top podcast provider in the US.

During the company’s Q3 2021 earnings call, Spotify said that according to Edison Research and its own internal sources, it “recently became” the No. 1 podcast platform US listeners use the most, reports TechCrunch.

Given the US is the largest global podcast market, the milestone is significant and speaks to the sizable investment Spotify has made in podcasts over the past few years, the report said.

The company didn’t break down its podcast listener numbers specifically, however. Instead, it shared its monthly active users overall grew 19 per cent year-over-year (YoY) to reach 381 million in the quarter, up from 365 million last year.

Premium subscribers also grew 19 per cent to reach 172 million, up from 165 million last year.

According to eMarketer’s recent data, Spotify and Apple Podcasts have been neck and neck in terms of US podcast listeners.

Its analysts said last month that Spotify would reach 28.2 million monthly US podcast listeners by year-end, topping Apple Podcast’s 28 million by a thin margin.

It forecast Spotify’s number of US podcast listeners would continue to grow to reach 43.6 million by 2025.

Meanwhile, Edison Research confirmed the website that the podcast milestone is based on usage, not downloads.

The data is from the firm’s second-quarter Podcast Consumer Tracker, its subscription service that covers the podcast industry.

Respondents were asked “what platform or service do you use most to listen to podcasts?” and Spotify came in at No. 1, at 24 per cent of weekly podcast consumers.

This put it ahead of Apple Podcasts for iOS (21 per cent) and YouTube (18 per cent). Edison Research said its sample is in excess of 8,000 weekly podcast consumers.

Source: IANS

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Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

The benchmark Indices Nifty started on the positive side after continuous sell off in last week and has managed to settle at 15842.30 with 60 point gain or 0.38 percent. However Nifty has failed to regain 16000 levels prior to LIC listing.

While Bank nifty has managed to settle at 33597.60 levels after gaining 1.44 percent. On the sectoral front, Nifty PSU Bank, Nifty Realty and Auto have contributed 2-3 percent gain on closing basis. On the flip side Nifty IT and FMCG ended with losses of 0.75 percent and 0.35 respectively. In Nifty, EICHERMOT, APOLLOHOSP and UPL were the top gainers while ULTRACEMCO, SHREECEM and ASIANPAINT were the prime laggards.

Technically, after forming the bearish candle on the weekly chart, the index has formed a Doji candlestick on the daily chart which shows indecisiveness among the trades. Moreover, the index has also faced a resistance from falling trend lines and showed profit booking from higher levels. However, Fibonacci retrenchment also has support around 15650 levels.

Traders may find buying opportunities for short term as if 15650 levels is protected. In the hourly chart, with support of the middle Bollinger band short term upside movement is expected. Stock specific action would drive the market in coming days too.

On the derivatives front, the highest call OI is at 16000 strike price followed by 16200 strike prices while on the put side, highest OI is at 15500 strike price. INDIA VIX closed at 24.53 with gain of 4.43 percent intraday indicating volatility is going to remain till weekly expiry . On the other hand, Bank nifty has support at 32600 levels while resistance is placed at 34500 levels.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

 

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