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Spotify Thrived Where Facebook, Snap and Roku All Slipped

Spotify’s advertising business is booming despite a global pullback. Here’s why.

The Spotify website on a smartphone arranged in the Brooklyn borough of New York, US, on Friday, July 22, 2022. Spotify Technology SA is scheduled to release earnings figures on July 27.
The Spotify website on a smartphone arranged in the Brooklyn borough of New York, US, on Friday, July 22, 2022. Spotify Technology SA is scheduled to release earnings figures on July 27.Photographer: Gabby Jones/Bloomberg

Spotify avoided the sales slowdown crippling many of its peers, and is one of the few digital media companies in a stronger position than it was a few weeks ago.

The company's stock jumped 12% Wednesday after it reported financial results that topped Wall Street forecasts and shares ended the month up about 16%. You can read our earnings coverage here.