Spotify users – pressnews

[ad_1] Spotify Technology SA, the Swedish audio streaming platform, beat analyst expectations in its second-quarter results with its total active users rising 27% to 551 million. The company cited strong growth in all regions and among younger Gen Z listeners. Premium subscribers rose 17% to 220 million, the company said Tuesday in a statement. That was ahead of the 217.1 million average of analysts estimates compiled by Bloomberg. Revenue, at €3.18 billion, was slightly below expectations. The company's adjusted operating loss was €112 million, beating analysts' estimates for a loss of €127.4 million. The company forecast 572 million active users for its third quarter, 224 million of them premium subscribers. It forecast sales of €3.3 billion for the period. Key Insights On Monda...

[ad_1] Spotify Technology SA has started selling audiobooks on its US app, allowing the music streaming giant to draw in new customers and keep existing ones closer.The Swedish company will start by offering more than 300,000 titles, including those from the five biggest publishing houses, and customers will be able to listen to them without ads. None of the books are exclusive to Spotify, and existing app subscribers don't get any discounts or additional perks, though the company said it plans to experiment with different business models. Audiobooks represent a “substantially untapped” market, Nir Zicherman, global head of audiobooks and gated content at Spotify, said in a press briefing Monday. They account for 6% to 7% of the $140 billion book industry and the ca...

Tag: Spotify users

Spotify users top expectations thanks to Gen Z listeners

Spotify Users Can Now Buy Audiobooks in the US App