@adam In case you wondered... this is mostly true, excepting the "overheard on IR call".

The 22% number comes from the Q3 2020 results, and Spotify counts an MAU as the total count of Ad-Supported Users and Premium Subscribers that "have consumed content for greater than zero milliseconds in the last thirty days"

But, it wasn't from the IR call, and you can listen to IR calls anyway on-demand (you don't need to "overhear" them).

@adam Spotify counts a podcast "start" as "when a Spotify user listens to 0 seconds or more", so it's roughly like a download. A "stream" is 60-seconds or more. And yes, my Spotify numbers really are this low.

They stopped reporting these numbers recently - Q4/20 was 25%, Q1/20 was "in line with last quarter", and Q2/21 said "The percentage of MAUs that engaged with podcast content on our platform improved modestly relative to Q1."

In short, I suspect Spotify has a problem.

@adam One final thing to back up my hypothesis that Spotify has a problem... this story.

(Oct 27 is when to order the popcorn in for their Q3/21 results.)

@jamescridland Thanks! Yeah, I usually search for a transcript of the IR calls. Unless I want to pull a clip. I've participated in too many of those in my life ;-)

So 'start'='download'

LOL

Yeah, they have problems.

@adam

"start" = "download" = "engagement"

...which is a much bigger LOL!

@jamescridland to be fair, >0sec is indeed 'engagement', albeit short.

@jamescridland @adam This further solidifies my theory that a lot of their plays come from just auto playing the next episode in their rec list after one of their big shows like Rogan ends.

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