Spotify's Podcast Bet With Parcast Sets the Stage for Earnings
- Analysts project 218 million monthly active users for quarter
- New mobile-app data suggests Spotify downloads are increasing
Photographer: David Paul Morris/Bloomberg
This article is for subscribers only.
Spotify Technology SA has been turning up the volume, and data indicating an uptick in worldwide mobile-app downloads sets the stage for a solid earnings report Monday morning.
Last quarter, Spotify doubled down on its podcast bet with two strategic acquisitions -- Gimlet Media Inc. and Anchor -- hoping to drive subscriber growth through mediums outside of music as record labels have begun demanding more money. And since last reporting financial results, the music streaming service bought podcast studio Parcast for an estimated $100 million.