Sports marketing leaders from State Farm, the Golden State Warriors, the NBA and more will join ADWEEK Brand Play on May 9 to unpack the trends, techniques and tools you need to break into the space. Register for your virtual pass.
Spotify experienced slow ad revenue growth during the company’s 2022 third-quarter earnings call Tuesday but was still up 19% versus the same quarter last year.
Top line
The audio platform’s total Q3 revenue topped $3 billion, up 21% year over year, with ad revenue making up 13% of the company’s total revenue.
Spotify’s ad revenue grew to $383 million in Q3, compared to $360 million in the previous quarter, led by double-digit gains from its podcasting business, according to CFO Paul Vogel.
Between the lines
“While this overall result was a bit below expectations, we continue to see encouraging signs that our ad strategy is working despite some of the near-term macro headwinds, and particularly the continued strength and interest in span,” said Vogel.
Vogel
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in