Spotify Q3 User Growth In-Line to Hit 381 Million, Ad Revenue Jumps 75% With Growing Podcast Slate

Spotify posted double-digit gains for overall monthly users and paid subscribers for the third quarter of 2021, in line with expectations, while its advertising revenue — fueled by its growing podcast slate — outperformed with with a 75% year-over-year increase. The company’s total monthly active users grew 19% year over year, to 381 million in Q3 (up from 365 million). Spotify Premium subscribers also climbed 19% to 172 million in the quarter, at the midpoint of the guidance range. Click here to sign up for Variety’s free Media Earnings newsletter. “We had a very strong quarter,” Spotify CEO and founder… Read Full Article