Spotify Misses Overall Q2 User Target, Ad Revenue Jumps 110%

variety.com:

Todd Spangler NY Digital EditorSpotify, citing ongoing headwinds from the COVID pandemic, fell short of its total monthly user growth goal in the second quarter of 2021.The audio-streaming giant netted 7 million paying subscribers in Q2, growing Premium customers 20% year over year to reach 165 million, in line with expectations.

Total monthly active users grew 22%, to 365 million in the quarter — which was just below its forecast.One bright spot: Spotify’s ad revenue more than doubled, which the company said was helped by podcast ad sales including for “The Joe Rogan Experience” and the Obamas’ Higher Ground podcasts.Click here to sign up for Variety’s free Media Earnings newsletter.The company’s previous Q2 guidance was overall monthly.