A Spotify Technology S.A. (NYSE:SPOT) executive who was instrumental in roping in Joe Rogan is leaving the company.
What Happened: Courtney Holt, architect of Spotify's podcasting strategy, will depart after nearly a four-year stint at the company, the Ankler reported.
The executive would leave in the coming weeks but likely continue to assist the company in an advisory role for a year, the report noted. Holt's role will reportedly be split between Julie McNamara, who is serving as head of U.S. studios and video, and Max Cutler, head of content initiatives.
Related Link: Why A Podcast Is A 'Hobby' For Apple And 'Career' For Spotify
Why It's Important: There are concerns over slowing user growth even though the music streaming service has said it hasn't seen any attrition due to the Joe Rogan controversy.
Last week, Lydia Polgreen — who was working as managing director of Gimlet, Spotify's podcast studio — announced her departure to join New York Times as an opinion columnist.
Holt was credited with negotiating some high-profile deals, including with Barack and Michelle Obama, and Rogan. However, the podcasting service has suffered lately due to some big deals not delivering expected outcomes.
Prince Harry and Meghan Markle's Archewell Audio is yet to make its debut on Spotify, more than a year after its announcement.
The Rogan controversy also took a toll on Spotify. Protesting against the racial comments made by the podcaster and his misinformation about COVID-19, some music artists pulled their work out of Spotify. It was then the company decided to bring in TV veteran McNamara to set its house in order.
Related Link: Would Joe Rogan Ever Quit Spotify? Here's What He Said
