The company’s previous Q2 guidance was overall monthly users of 366 million-373 million and 162 million-166 million paying subscribers.
In discussing the lighter user adds in the quarter, Spotify said in its letter to shareholders, “COVID-19 continued to weigh on our performance in several markets, and, in some instances, we paused marketing campaigns due to the severity of the pandemic.” At the end of Q2, Spotify had 2.9 million podcasts on the platform, up from 2.6 million at the end of Q1. The percentage of MAUs that engaged with podcast content on our platform improved modestly relative to Q1 , the company said.
Spotify said the growth in ad-supported revenue was led by Direct and Podcast sales channels, with the latter benefiting from a triple-digit Y/Y gain at existing Spotify studios along with contributions from the Megaphone acquisition, the exclusive licensing of the Joe Rogan Experience, and the Obamas’ Higher Ground.
they paid Harry & Meghan $25M for a 35 minute podcast, they woke now
I had Spotify for the free 14 day trial and then immediately had to delete it! I'll happily stick to ripping my CDs on to a memory stick thanks.
Don't support companies that censor.
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