Spotify Q3 MAUs Rise 19%; Stock Up
After COVID-19 “choppiness” in the first half, Spotify grew monthly active users by 19% year on year to 381 million in Q3, said CEO Daniel Ek on a Wednesday quarterly call. Revenue grew 27% to $2.9 billion, led by premium…
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subscriber revenue, said a shareholder letter. Ek said linear radio has 46% share of U.S. audio listening, “despite consumption shifting steadily away from it.” Shares closed 8.3% higher at $273.13.