As the Sweden-based audio giant cuts staff and reorients its business toward better margins, insiders say leadership is less focused on non-IP-driven original content and more careful about expensive deals with high-wattage stars.
Ostroff’s departure was a surprise to some observers, given that the executive was one of Spotify’s most public-facing leaders, spearheading key presentations to investors, participating in media interviews to talk up Spotify’s podcasting expansion and hosting Hollywood-focused events — including a Feb. 1 pre-Grammys party for women in entertainment. Per securities filings, Ostroff also had the highest salary of Spotify’s C-suite, bringing in $1 million in base salary for a total of $8.
Outside partners concerned about Ostroff’s departure were told that her top lieutenants, Julie McNamara and Max Cutler, would remain in place and continue overseeing original programming and talent partnerships, respectively.
The latest pivot at Spotify is partly a recession-era sign of the times and partly growing pains for a company that has made massive expansions in recent years but has yet to become profitable.
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