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Spotify to sack 17% staff members

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Music streaming giant Spotify said Monday it will reduce the number of its employees by around 17% in a bid to cut costs amid “dramatically” slower economic growth.

Spotify in October posted a rare quarterly operating profit of 32 million euros, compared to a loss of 228 million for the same period a year earlier, on the back of 26% growth in active users for the third quarter.

“I realise that for many, a reduction of this size will feel surprisingly large given the recent positive earnings report and our performance,” chief executive Daniel Ek wrote in a letter to employees, which was seen by AFP.

He said that in 2020 and 2021, the company “took advantage of the opportunity presented by lower-cost capital and invested significantly in team expansion, content enhancement, marketing and new verticals.”

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“However, we now find ourselves in a very different environment. And despite our efforts to reduce costs this past year, our cost structure for where we need to be is still too big.”

Spotify has invested heavily since its launch to fuel growth with expansions into new markets and, in later years, exclusive content such as podcasts.

It has invested over one billion dollars into podcasts alone.

In 2017, the company had around 3,000 staff members, more than tripling the figure to around 9,800 at the end of 2022.

The company has never posted a full-year net profit and only occasionally quarterly profits despite its success in the online music market.

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Entertainment

Rotimi Salami breaks silence on movie set abandonment accusation

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Rotimi Salami movie set controversy

Nollywood actor Rotimi Salami denies allegations of abandoning a movie set, explaining delays and unfair treatment by the production team

 

Nollywood actor Rotimi Salami has responded to allegations that he abandoned a movie set before completing his scenes.

Also read: Veteran Nollywood actor Columbus Irisoanga passes away

The accusation, made by a production manager, sparked controversy, prompting Salami to share his side of the story on Instagram.

Salami explained that veteran actor Lekan Olatunji had initially invited him to feature in a movie scheduled for a two-day shoot.

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However, the production was rescheduled four times for undisclosed reasons, causing significant disruptions to his schedule.

Despite the multiple delays, Salami honoured his commitment and arrived on set in Abeokuta at 2:30 p.m.

He acknowledged that he was late due to car trouble but noted that he had already informed the team that he would not be staying overnight.

The actor further revealed that he had a prior engagement in Lagos the following day. However, additional delays from the movie crew forced him to leave before completing his scenes.

Salami expressed disappointment over the public accusation, stating that it unfairly misrepresented the situation.

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He was particularly upset that his business phone number was shared online, leading to a flood of unwanted calls and backlash.

Emphasising his commitment to professionalism, he urged people to seek the full story before making judgments.

“Whether you find me guilty or not, please kindly subscribe,” he concluded, directing his followers to his YouTube channel, TheSalamis TV.

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Mr Macaroni finds peace after three-year struggle

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Mr Macaroni finds peace

Popular skit maker Mr Macaroni reveals he has finally found peace after carrying a heavy burden for three years, celebrating his freedom

 

 

Popular Nigerian skit maker and content creator Debo Adedayo, better known as Mr Macaroni, has shared an emotional revelation about his personal struggles.

Also read: Mr Macaroni Reacts As Davido’s Aide Assault Fan

The comedian took to Instagram to express his relief after enduring a difficult period that lasted three years.

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Accompanied by a heartfelt caption and a photo of himself, Mr Macaroni disclosed that he had been carrying a heavy burden that tested him beyond his limits.

Although he did not reveal specific details, he admitted that the experience took a toll on him, making him feel weighed down.

Despite the hardships, the comedian remained resilient. In his post, he expressed gratitude for making it through the challenging period and encouraged his fans to stay strong in the face of adversity.

“I feel better than I have felt in over three years! I have peace of mind. I feel free! I have been carrying a heavy burden for about three years now. It tested me beyond limits and weighed me down. But I never stopped fighting,” he wrote.

Fans and colleagues have since flooded the comment section with messages of support, celebrating his triumph.

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Mr Macaroni, known for his humorous yet socially conscious skits, continues to be an influential figure in Nigeria’s entertainment industry.

His ability to blend comedy with important societal issues has earned him widespread recognition and respect.

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Asake confirms exit from YBNL, launches “Giran Republic”

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Asake leaves YBNL

Nigerian singer Asake has confirmed his exit from YBNL Nation, launching his own imprint, Giran Republic, while maintaining ties with Empire

 

Nigerian singer Ahmed Ololade, popularly known as Asake, has officially confirmed his departure from Olamide’s YBNL Nation. Speculation about his exit had been circulating, but the artist put the rumours to rest by releasing his latest single, *Why Love*, under his own imprint, **Giran Republic**.

Also read: Asake tops Spotify charts as Nigeria’s most streamed singer of 2024

Despite leaving YBNL, Asake’s relationship with his former label boss, Olamide, appears to remain intact. Earlier in the year, he paid homage to Olamide in his song *Military*, dispelling any notions of a rift between them.

Asake joined YBNL Nation in February 2022, a move that propelled him to mainstream success. In July of the same year, he signed a distribution deal with **Empire**, a partnership he still maintains even after exiting YBNL.

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With Giran Republic now established, fans are eager to see how Asake shapes his career as an independent artist. Given his track record of hit releases, his next moves in the industry are highly anticipated.

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