Spotify Revenue Up 27%, Paid Subscriptions Rise 19% In Third Quarter

Reports Strong Q3

Third quarter 2021 revenue grew 27% year-over-year to €2,501 million at SPOTIFY in what the company's CEO DANIEL EK termed a "very strong quarter." The company's growth was led by advertising revenue, up 75% to €323 million. Paid premium subscribers rose by 19% to 172 million, with MAUs up 19% to 381 million, led by SOUTH KOREA, BANGLADESH, and PAKISTAN.

Podcasting was another area of growth for SPOTIFY, with podcast MAUs up 20% year-over-year and podcast share of overall consumption at an all-time high.

EK said that SPOTIFY's "business is doing really well and I’m pleased that we continue to deliver across the areas that are fundamental to our growth and long term strategy. Audio is our right to win. While we have been relentless in our pursuit of being the world’s largest audio platform, it’s still early days and we are just getting started.”

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