Spotify’s user base grew to 165 million paid subscribers and 210 million free users during the second quarter of 2021, with total monthly active users now hitting the 365 million mark, the company announced Wednesday in its latest earnings release. (Billboard)
Advertising revenue, which had returned to growth in the third quarter of 2020 following a coronavirus pandemic hit, continued to rise in the most recent quarter, jumping 110 percent compared with the year-ago period. (THR)
Given how many podcasting companies Spotify has acquired over the past few years, it would be concerning if there hadn’t been significant growth in this realm. Among Spotify users who already listen to podcasts, podcast listening increased 30 percent year over year, with total hours consumed up 95 percent. Meanwhile, podcast ad revenue increased by 627 percent, which outperformed expectations. (TechCrunch)
The Swedish streamer reported a net loss of $23.6 million or 19 cents a share, narrowing from a year-ago loss of $418 million or $2.25 a share. Revenue rose 23 percent to $2.75 billion. (NY Post)