Revenue jumps as Spotify racks up 100 million paid subscribers GlobeTechnology
Spotify Technology SA reported a better-than-expected rise in first-quarter revenue on Monday as the music streaming company hit 100 million paid subscribers for its premium service, sending its shares up nearly 5 per cent.
Spotify said it had 217 million monthly active users in March, up from 173 million in the same quarter a year earlier. Analysts on average were expecting the company to have 218.6 million subscribers, according to research firm FactSet.Premium or paying subscribers at the end of the quarter were 100 million, up from 75 million a year earlier. Analysts were expecting the company to have 99 million paid subscribers.
Europe contributed 40 percent of the total paid subscribers, followed by North America with 30 percent.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Federal carbon price revenues to hit $2.6 billion this year, budget watchdog saysPBO says revenues will exceed $6 billion a year within five years
Read more »
American Airlines to take $350-million hit from 737 Max groundingsAmerican Airlines to take $350-million hit from 737 Max groundings GlobeBusiness
Read more »
Disney Heir Abigail Disney Calls CEO Bob Iger's $65 Million Pay 'Insane'Abigail Disney, an heir to the entertainment giant who has long criticized income inequality, blasted CEO Bob Iger’s $65.6 million salary, which amounts to 1,424 times that of the median Disney employee.
Read more »
Households using streaming services projected to exceed traditional TV subscribers next yearConvergence Research Group says the growing popularity of an array of streaming options — ranging from Netflix and Crave to sports platform DAZN — is leading to a gradual shift in where Canadians invest their entertainment dollars
Read more »
Twitter posts surprise quarterly user growth, revenue beats expectationsThe company’s quarterly monthly active user count rose 9 million to reach 330 million from previous quarter
Read more »
Carbon-price revenues to be $2.6-billion this year, budget watchdog saysCarbon-price revenues to be $2.6-billion this year, budget watchdog says GlobeBusiness
Read more »
Instagram growth boosts Facebook revenue, but potential privacy penalty loomsThe company warned it could face up to $5 billion in losses related to an official U.S. privacy investigation
Read more »
Bombardier cuts financial outlook, full-year revenue guidance down by US$1BMONTREAL — Bombardier Inc. is cutting its financial guidance for the year due to lower expectations at its transportation business and commercial aircraft division.The company, which keeps it…
Read more »
Lululemon targets annual revenue growth in low teens for next five yearsThe Canadian yoga-pants specialist expects operating income growth to exceed revenue growth annually
Read more »