Audio's Reach Beyond the Screen, Spotify's Ad Stack Rebuild, & More

Today in the business of podcasting:

• Sounds Profitable's new Podcast Atlas report maps five interconnected territories of podcasting audio, video, clips, social, and newsletters, finding that 78% of listeners engage with podcasts during hands busy activities while 77% still report giving the medium their full or nearly full attention.
• Netflix CMO Marian Lee outlines the streamer's deliberately varied podcast deal strategy, mixing exclusive arrangements like Jay Shetty's with non-exclusive deals as the company adapts its traditional greenlight model to a creator economy where the creator is the brand.
• Spotify's VP of Product details a multi-year rebuild of the company's ad infrastructure, including a proprietary ad exchange called SAX that has now opened podcast inventory to Amazon DSP buyers, even as Q1 2026 ad-supported revenue dipped 5% year over year despite audience growth.

To find links to these, and every article covered in today's episode, click here. You can also subscribe to The Download's newsletter to receive the full issue straight to your email inbox every day.