Spotify Earnings: Growth, Competition, and Podcast Investments - A Comprehensive Review
stock futures were slightly lower Tuesday morning as investors awaited a slew of earnings reports from major technology companies. Spotify (SPOT) is set to report its fourth-quarter and full-year 2020 results before the opening bell. Analysts are expecting the music streaming giant to post a loss of $0.49 per share on revenue of $2.17 billion for the quarter. Spotify has been facing increased competition in the streaming space from rivals like Apple Music and Amazon Music, but the company has continued to grow its user base and expand its podcast offerings. In the third quarter, Spotify reported 320 million monthly active users, up 29% year over year, and 144 million premium subscribers, up 27% year over year. The company has also been investing heavily in podcasting, acquiring several podcast production companies and signing exclusive deals with high-profile personalities like Joe Rogan.
