To cut costs, Spotify has laid off around six percent of its workforce, or 600 people. It has also announced plans to shut down both its live audio app, Spotify Live, and Heardle, the Wordle-style song-guessing game it bought last summer.
Despite these challenges, Spotify remains one of the leading audio streaming services in the world, with a user base that continues to grow. The company’s focus on expanding its ad-supported user base could help it to generate more revenue in the future, while its premium subscription service remains an attractive option for users who want to enjoy ad-free listening and other perks.
