![]() ![]() In the fourth quarter, Spotify had 207 million monthly active users and 96 million premium subscribers. Launched in 2008, Spotify lets users stream their chosen audio for free with ads or ad-free with a subscription. The expansion into podcasting comes as Spotify seeks to increase the amount of content on its platform, as rivals in the streaming-music space are closing in on its lead. ![]() Spotify’s shares fell $3.95, or 2.8%, to $135.45 on Wednesday, because the acquisitions were expected to lower the company’s margins, analysts said. Revenue was up 30% to nearly $1.7 billion for the quarter. The company also recorded its first-ever quarterly operating profit, at $107 million. “While podcasting is still a relatively small business today, I see incredible growth potential in this space,” Ek said on a call with investors Wednesday morning.Īlso on Wednesday, Spotify reported net income of $502.9 million in the fourth quarter, compared with a loss of $678.1 million a year earlier.
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