Spotify expects to have more than 400m monthly active users by the end of this year, according to the latest company report.

Why it matters

The company is expanding its presence in multiple markets – the United States and UK exceeded expectations for advertising revenue growth, while the company called out India, the Philippines, Indonesia, South Korea, Bangladesh and Pakistan as key areas of user growth.

Podcasts have also been a key area of growth for Spotify, with podcast advertising revenue growing by triple-digits. As well as this, more users are listening to podcast content and they are also spending...