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Spotify with 155M Subscribers With Focus on Podcasts

www.wsj.com

Spotify ended 2020 with 155 million paying subscribers, an increase of 24% from the previous quarter. The music streaming service also saw an increase in advertising revenue of 29%, which accounted for 13% of the company’s total revenue. That’s an increase from historical levels of less than 10%. That growth suggests Spotify is making progress in using podcasting to diversify its revenue stream by attracting ad dollars.

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