Spotify Subscribers Grow to 188 Million in Q2 3l4u6e Monthly Active s Rise to 433 Million: Details

Spotify said podcast listeners reached a record in the quarter, as choose from among 4.4 million podcasts. 6p2y2a

By Reuters | Updated: 27 July 2022 17:23 IST

Spotify Subscribers Grow to 188 Million in Q2, Monthly Active s Rise to 433 Million: Details

Spotify invested over a billion dollars in acquiring shows 4d122t

Highlights

Total monthly active s rose 19 percent to 433 million
Spotify has bet big on podcasts
The company expects total monthly active s of 450 million

ment

Spotify reported second-quarter revenue above analysts' estimates on Wednesday, helped by a 14 percent jump in paying subscribers as more s listened to its podcasts, and the company forecast an upbeat current quarter. The Swedish music streaming company posted a 23 percent increase in revenue to EUR 2.9 billion (roughly Rs. 23,550 crore), beating analysts' expectations of EUR 2.8 billion (roughly Rs. 22,740 crore), according to IBES data from Refinitiv.

subscribers, which for most of the company's revenue, rose to 188 million, beating analysts' expectations of 187 million.

Total monthly active s rose 19 percent to 433 million. Analysts had expected 428 million.

Spotify's Subscriber Count Hits 182 Million

informed the staff via email that the audio streaming company would reduce its hiring by 25 percent, according to a source familiar with the contents of the email.

Ek said Spotify would continue hiring, though it would slow the pace "and be a bit more prudent" of over the next few quarters.

The company forecast current-quarter paid subscribers of 194 million, in line with expectations. It expects revenue of EUR 3 billion (roughly Rs. 24,360 crore), above estimates of EUR 2.95 billion (roughly Rs. 24,000 crore).

Joe Rogan Podcast Episode Gets Deleted From Spotify

Spotify has bet big on podcasts, investing over a billion dollars in acquiring shows such as the The Joe Rogan Experience and other businesses in a bid to draw s to a growing non-music audio segment.

The company said podcast listeners reached a record in the quarter, as choose from among 4.4 million podcasts.

The company expects total monthly active s of 450 million in the third quarter.

Why is Oppo making strange choices with its flagship Reno series? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

links may be automatically generated - see our ethics statement for details.

Comments

For the latest reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.