Tom Calderone, Spotify’s head of video and podcasts, is departing the company amid a shift in content strategy. The news was first identified by Bloomberg.
The digital streaming business, known for its music playlists, had expanded into other categories like original video, but the company has confirmed that it’s changing its approach. Said a spokesperson, going forward “we are focusing our expanding video offerings on Rap Caviar, Rock This and other popular Spotify playlists.”
Calderone had been at the company for a little over a year, and before that was president of television network VH1. At Spotify, he commissioned 12 music-themed video shows and also worked on licensing deals with Comedy Central and ESPN.
Spotify is getting ready to go public and is considering doing something referred to as a direct listing. The company would list on the stock market without the fundraising event known as an IPO.
Unlike private investors who tend to take a long-range view, public investors scrutinize short-term growth, evaluating things every quarter. This can make it harder to take risky bets, so now would be a good time for Spotify to focus on growing its core business.
Founded in 2006 in Stockholm, Spotify now has a large presence in London and New York. The company has raised at least $2.5 billion in debt and equity financing, according to Crunchbase.