A company that enjoys a blockbuster quarter can miss its earning expectation badly a few months later. Apple and Spotify are competing in a sector where changes happen frequently and drastically. Let’s look at the industry context first. Such textual analysis is not the perfect measurement of company’s behaviors, but it should give us a reliable gauge on how things have evolved. The algorithm then aggregated how companies talked about themselves and how the business community came to understand them. We downloaded 10 years’ worth of business publications, including the Financial Times, Wall Street Journal, New York Times, company’s press releases, and others. To answer these questions, we took the big data approach at the Center for Future Readiness at IMD. The question is: how could Apple let this happen under its watch? What does Spotify have that Apple doesn’t?
It moves faster than Apple in exploring what is possible for the audio service. To achieve this, Spotify is taking a page from Netflix’s playbook by acquiring exclusive content and forging partnerships for wider distribution. Meanwhile, Spotify now carries 2.2 million podcasts, up from 450,000 back in 2019. Its service still grew, but it’s losing market share. for the first time.Īlso in this year, the number of Spotify’s podcast listeners is set to overtake Apple’s.Īpple didn’t stopped or stagnated. Podcasts took off during the pandemic lockdown, and its market is projected to bring in more than $1 billion in revenue this year from advertising in the U.S. For years, it’s been one of Apple’s mainstays. How does a company, having invented a whole category of product, lose it to a competitor? I am not speaking of a slow-reacting organization.
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