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Spotify Eyes Younger-Skewing Podcasts As CEO Gives Shout-Out To ‘Call Her Daddy’, Mum On Archewell; Q2 Subscribers Jump, Losses Widen

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Spotify had its best quarter ever for new additions but revenue fell short of expectations and the music streamer booked a wider loss on severance and other business charges for the three months ended in June.

Shares of the global platform, headquartered in Sweden, are down more than 12%. The latest financials follow news yesterday of price increases.

CEO Daniel Ek and CFO Paul Vogel on a post-earnings call today the full impact of the hikes won’t be evident in numbers until the fourth quarter.

The company is raising the price of its premium subscriptions, bringing the audio streaming service in line with top competitors.

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