- Spotify Technology SA on Wednesday forecast current-quarter revenue largely below analysts’ estimates, as the streaming service spends more on promotions to lure listeners in its battle against Apple Music and Amazon.Spotify’s paid subscriptions rose a better-than-expected 29% in the fourth quarter, largely from discounted promotional plans.
Paid subscribers, which make up nearly 90% of its revenue, tallied 124 million for the three months ended Dec. 31. Analysts on average expected 122 million, according to FactSet. “What we really did with The Ringer, I think, is we bought the next ESPN,” said Chief Executive Officer Daniel Ek in a post-earnings call.
“It’s clearer than ever to us that podcast listening is driving the overall health of our business,” Ek said.
430241343420121021?¿
I like Spotify . Spotify is good ad ?