Around the Net

Spotify Reports Mixed Q2 Results

Variety, Wednesday, July 29, 2020 9:15 AM

Despite putting gup respectable second-quarter earnings, Spotify suffered from a 48% increase in operating costs during the period, Variety reports. “In addition, ad revenue fell 21% -- which Spotify blamed on the coronavirus pandemic -- but the drop wasn’t quite as bad as forecast,” it writes. “Total monthly active users grew 29%, to 299 million, a sequential increase of 13 million.”

Read the whole story at Variety »

2 comments about "Spotify Reports Mixed Q2 Results".

Check to receive email when comments are posted.

John Grono from GAP Research, July 30, 2020 at 6:03 p.m.
Can someone please explain what "Total monthly active users grew 29%, to 299 million, a sequential increase of 13 million" means.

29% growth to 299 million means that the prior base number was 232 million (232 * 1.29 = 299). But 299m - 232m = 67m. So what does the 13m 'sequential increase' mean because it doesn't equate to the quartely increase calculated per the data in the article.
Reply

Ed Papazian from Media Dynamics Inc, July 30, 2020 at 6:53 p.m.

Beats me, John. Obviously, nobody at "Variety" noticed the seeming contradiction---sigh!. In ancient times when such a missive was distributed, I would have expected that "journalists" on the receiving end would insist on an answer---and failing that, maybe they might not publish the blurb at all.