A look back at Spotify betting hundreds of millions of dollars on podcasts, which CFO Paul Vogel says were a "big drag on our business in 2022" (Max Tani/Semafor)

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Max Tani / Semafor:
A look back at Spotify betting hundreds of millions of dollars on podcasts, which CFO Paul Vogel says were a “big drag on our business in 2022”  —  By 2021, Spotify had paid to sign some of the biggest names in podcasting, and it was ready to start squeezing its competitors.

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