Max Cutler, who served as Spotify’s head of audio talk shows and partnerships, is leaving the company to launch his own venture, according to a memo seen by Bloomberg News. Cutler will depart on May 1, following the departure of Dawn Ostroff, who oversaw content and advertising at Spotify, and a reorganization of the podcast team. A spokesperson for the company confirmed that Cutler’s exit would be accompanied by a further restructuring of the business.
As the VP of talk creator content and partnerships, Cutler played a key role in overseeing the Swedish streaming service’s deals with major podcast creators such as Joe Rogan, Emma Chamberlain and Alex Cooper. Prior to joining Spotify in 2019, Cutler founded Parcast, a podcast network that Spotify acquired in 2019 and still operates.
Spotify has been cutting costs in its podcasting division, cancelling shows and reducing headcount. The company’s shares suffered a major decline in 2020, hitting their lowest level ever. While shares have rebounded by over 50% this year thanks to cost cutting and positive financial results in January, they fell by as much as 4.8% to $119.26 on Tuesday, as part of a broader stock market slump.
In response to Cutler’s departure, Spotify has announced changes to its leadership structure. Julie McNamara, who already oversees the company’s studios and original content, will now supervise licensed exclusives as well, while Bryan Thoensen, who joined the company from TikTok last year, will oversee content partnerships with third-party creators. Sahar Elhabashi, now head of podcast business, will supervise Bill Simmons, the commentator and talk-show host, who will continue to run the sports and culture network known as The Ringer and focus on podcast monetization.
During the company’s quarterly earnings call, CEO Daniel Ek said that while he believed Spotify’s $1-billion-plus investment in podcasting was the right decision, he acknowledged that he may have over-invested given the uncertainty in the market. He stated that Spotify would now focus on efficiency moving forward. The details of Cutler’s new venture remain unknown at this time.
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