The CEO said advertising should get to contributing at least 20 percent of total revenue for Spotify next and could expand to as much as 30-40 percent over the next five to 10 years. He said the recent momentum proves the potential for ads to be “the second big revenue driver for the future of our business.” And he said the ad business was “accelerating with much more room to run.” On an earnings conference call, Ek said ad revenue growth has been exceeding the company’s expectations and would exceed 1.0 billion euros ($1.2 billion) annually for the first time this year.
“Since launch, the number of podcasts in our network has grown by more than 50 percent, and nearly one in five Spotify advertisers are already participating,” the company said. It reached a company record for quarterly ad revenue of 323 million euros ($375 million). Spotify’s quarterly advertising revenue, which had returned to growth in the third quarter of 2020 following a coronavirus pandemic hit, continued to rise, jumping 75 percent compared with the year-ago period, helped by growth in podcasts. On an earnings conference call, Ek said that MAUs “choppiness in the first half of the year was primarily due to COVID and is now largely behind us.” Stockholm-based Spotify reiterated its previous year-end 2021 projection that calls for 177-181 million premium and 400-407 million MAUs. 'Blonde' DP Talks Interpreting Marilyn Monroe's Life Through Experimentation and Excess: "We Were Just Pushing Things"
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