Categories: Market

Spotify grows beyond expectations

Therefore, growth was slightly stronger than the company had expected. Spotify plans to reach 202 million subscribers by the end of the year. The service then wants to have a total of 479 million users, after 456 million by the end of September.

Spotify revenue grew 21 percent year-over-year in the third quarter to just over $3 billion. Ad revenue growth slowed significantly, increasing 19 percent to $385 million.

Advertising customers are reducing their spending overall, and other online companies are also being affected. Alongside its subscription business, Spotify relies on the expansion of its advertising revenues, including podcasts, to create an additional business leg.

As a result, it was a profit of $22 million after going black from $160 million in the same quarter last year. Spotify shares temporarily lost about five percent in after-hours trading on Tuesday.

(SDA)

Source :Blick

Share
Published by
Tim

Recent Posts

Terror suspect Chechen ‘hanged himself’ in Russian custody Egyptian President al-Sisi has been sworn in for a third term

On the same day of the terrorist attack on the Krokus City Hall in Moscow,…

1 year ago

Locals demand tourist tax for Tenerife: “Like a cancer consuming the island”

class="sc-cffd1e67-0 iQNQmc">1/4Residents of Tenerife have had enough of noisy and dirty tourists.It's too loud, the…

1 year ago

Agreement reached: this is how much Tuchel will receive for his departure from Bayern

class="sc-cffd1e67-0 iQNQmc">1/7Packing his things in Munich in the summer: Thomas Tuchel.After just over a year,…

1 year ago

Worst earthquake in 25 years in Taiwan +++ Number of deaths increased Is Russia running out of tanks? Now ‘Chinese coffins’ are used

At least seven people have been killed and 57 injured in severe earthquakes in the…

1 year ago

Now the moon should also have its own time (and its own clocks). These 11 photos and videos show just how intense the Taiwan earthquake was

The American space agency NASA would establish a uniform lunar time on behalf of the…

1 year ago

This is how the Swiss experienced the earthquake in Taiwan: “I saw a crack in the wall”

class="sc-cffd1e67-0 iQNQmc">1/8Bode Obwegeser was surprised by the earthquake while he was sleeping. “It was a…

1 year ago