Spotify reports ad revenue up 75%
Spotify Q3 report shows a 75% increase of advertising revenue to Euro 323 million and premium subscribers up 19% to 172 million. About 40% of paid subscribers are based in Europe and 29% in the US. Total revenue was up 27% in Q3 to Euro 2.50 billion.
Total monthly active users rose 19% to 381 million. The company has over he last few years invested heavily in podcasts including by acquisitions. Spotify now has 3.2 million podcasts on its platform, up from 2.9 million in Q3.
Forecast for Q4 is revenue of Euro 2.54 – 2.68 billion and177 – 181 million premium subscribers.
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