The boss at Spotify, whom helped sign the Duke and Duchess of Sussex, has reportedly quit the platform as a number of job cuts hit the company.
According to chief executive Daniel Ek, Dawn Ostroff, whom is the streaming company’s chief content and advertising officer, has “decided to depart Spotify”.
The news of Ms Ostroff’s exit comes as the Stockholm-headquartered company confirmed that around 600 people would lose their jobs.
In a blog post, Mr Elk wrote: “In hindsight, I was too ambitious in investing ahead of our revenue growth.”
Ms Ostroff was responsible for the streaming service’s investment in podcasting.
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She signed up the Duke and Duchess of Sussex’s “Archetypes” series in a deal with the couple’s production business Archewell Audio.
As well as this, she also oversaw an exclusive tie up to bring popular comedian and podcast host Joe Rogan to the platform.
Spotify spent an estimated $1billion on exclusivity deals and acquisitions, including production company Gimlet, all with Ms Ostroff’s guidance.
However, amid mounting losses, investors have started to question the cost of the strategy.
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In their Instagram post dated January 8, 2020, Meghan and Harry declared that their decision came after “many months of reflection and internal discussions”.
They declared that they wish to “work to become financially independent”.
