Spotify on a go-slow
Spotify’s growth curve has flattened. The music streamer added just 4m paying subscribers over the course of the third quarter despite some serious promotional work in the period. The acquisition rate was just half that of the second quarter.
Spotify had 87m subs at end-September, up 40% year-on-year. The number of advertising-supported users rose 20% to 109m. On the financials side, the company posted an operating loss of €291m in the first nine months of the year.
Europe remains Spotify’s largest market, accounting for 36% of users, ahead of North America (31%). However, Latin America is one of the fastest-growing regions.