Spotify is not an exception to these realities,” Ek wrote in a letter to staff posted to the company’s website. And in June, Spotify cut 200 employees from its podcasting unit. Despite adding 6 million subscribers in the June-to-September period — 2 million more than the company had forecast — Spotify eked out a profit of just €32 million ($34.8 million) in that time. That was up from a loss of €228 million ($248 million) in the same period last year. The company has 226 million subscribers in total.

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Persons: Daniel Ek, ” Ek, headcount, Daniel Ek Drew Angerer, Ek, “, ” Organizations: London CNN, Spotify, Microsoft