Spotify benefits from subscriber surge amid Covid-19 lockdowns
Streaming companies in general are benefiting from people staying at home, with Spotify’s monthly active users rising 31% in the quarter
29 April 2020 - 16:30
Bengaluru/New York — Spotify Technology’s paid music subscribers surged to 130-million in the first quarter, driving shares in the Swedish music streaming firm higher as its business model proved more resilient than expected in the coronavirus lockdowns.
A double-digit rise in quarterly revenue helped the company weather a virus-related decline in ad sales, which contributed less than 10% to overall revenue...
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