Overall, the Swedish streamer swung to a third-quarter profit of $2.3 million, as total revenue grew 27 percent to $2.90 billion. He tied the expected increase in ad revenue to the podcast push. Ek said he expects annual ad sales this year to exceed $1.2 billion for the first time. The CEO called the feat “significant” given that the US market is the world’s largest.Īdvertising revenue rose 75 percent in the third quarter, reaching a company record for quarterly ad revenue of $375 million. 1 podcast platform US listeners use the most.” SOPA Images/LightRocket via GettĮk called out the company’s popular exclusive shows, “The Joe Rogan Experience” and “Armchair Expert” with Dax Shepard and “Call Her Daddy,” adding that Spotify “recently became the No. Spotify’s growing podcast business, which includes shows like “The Joe Rogan Experience,” helped lift advertising sales. The CEO added that advertising revenue growth, which had taken a hit during the pandemic, had rebounded, lifted by Spotify’s growing podcast business. Overall, total subscribers - paid and free - rose to 381 million from 365 million. The Swedish streamer ended September with 172 million paid subscribers, up from 165 million from the second quarter, due in part to a promotion offered during the period. Spotify Chief Executive Daniel Ek told investors Wednesday that subscriber “choppiness in the first half of the year was primarily due to Covid - and is now largely behind us.” Shares of Spotify rose over 5.6 percent in early-morning trading to $266.67. Music streaming giant Spotify said it continued to grow its subscriber base and advertising revenue thanks to podcasts in the third quarter, as the effects of the pandemic waned. The one word that instantly kills my libido Podcaster claims Hulu’s Chippendales series ripped her off: ‘Troubling’ The Weeknd breaks 2 Guinness World Records - and nabs 1 more big honor

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Spotify ceo