Swedish music streaming service Spotify reported 19% year on year growth in monthly active user base (MAUs) during its third quarter ended September, led by resumption marketing initiatives in India and growth in markets like Philippines and Indonesia, the company said today.
The company reported 381 million users globally up from 320 million last year and up 4% on a sequential basis. Revenue of 2,501 million grew 27% year on year in Q3 ( 26% on a constant currency basis) and due to significant advertising initiatives, said the company.
“We experienced double digit year on year growth in all regions with particular strength in the Rest of World where performance was aided by the resumption of marketing activity in India along with above-plan growth in the Philippines and Indonesia,” the company said in a statement. Rest of the World comprises 21% of its MAU base as of Q3.
It also saw improved momentum across the 86 markets launched earlier this year, with outperformance led by South Korea, Bangladesh, and Pakistan. During the quarter Spotify added several major promotional partnerships, including OnePlus where it preloads on OnePlus mobile devices in India with 3 and 6 month trial periods and a limited offer of 12-month trial for OnePlus Red Cable Club members.
At the end of Q3, Spotify had 3.2 million podcasts on the platform (up from 2.9 million at the end of Q2). Internationally, it released 76 new O&E podcasts, with notable traction in India and Latin America where...
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