Spotify's Podcast Buys Reflect 'Sonic Internet,' Sonos CEO Says
Spotify's buy of two podcast companies (see 1902060010) reinforces what Sonos CEO Patrick Spence calls the “sonic internet,” he told analysts Wednesday. He cited a “huge explosion” in customers’ podcast listening hours, crediting part of that to podcasts and adding…
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Audible to the platform last year. After the company's fiscal Q1 results for the holiday quarter and projections for this quarter, Sonos shares Thursday closed down 12 percent at $10.92.