Spotify advertising revenue rebounds as users top 300m

Rob Clapp

An overview of Spotify's advertising revenue and monthly active users in Q3 2020.

Spotify has recovered from a steep coronavirus-induced drop in advertising revenue and added 21m new users, according to the latest company reports.

The audio streaming platform saw advertising revenue grow by 8.8% in the third quarter of 2020, up to €185m. This is a reversal from the steep one-fifth (20.6%) drop seen in Q2.

However, Q3's 8.8% increase is half the rate of growth seen in the first three months of the year (+17.5%), suggesting the platform has room for acceleration.

The company notes that this advertising rebound was led by their Podcast and Ad Studio channels, which...

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