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Spotify Audience Network lands in UK, Australia and Canada with far-flung targeting
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Spotify Technology S.A. Announces Financial Results for First Quarter 2021
April 28, 2021 GMT
NEW YORK (BUSINESS WIRE) Apr 28, 2021
Spotify Technology S.A. (NYSE:SPOT) today reported financial results for the first fiscal quarter of 2021 ending March 31, 2021.
(Graphic: Business Wire)
Dear Shareholders,
We are pleased with our performance in Q1. The business delivered subscriber growth and Gross Margin at the top end of our guidance range, a continued improvement in ARPU, and operating income better than plan. We saw greater MAU variability this quarter, but results were within our range of expectations given the outperformance in Q4 and the continued impact from COVID-19. Revenue grew by 16% (22% excluding the impact of FX) and was at the upper end of our guidance range. Other highlights from the quarter include a successful launch in 86 new markets, a $1.5 billion Exchangeable Note
Following its launch in the Nigerian music streaming space, top streaming platform Spotify has notified advertisers of spots in its service for advertisement.
On February 23, Spotify launched its services in Nigeria and 80 new markets across Africa, Asia, Europe, Latin America, and the Caribbean to capture more audiences.
Serving as the brand’s local advertising sales partner is Ad Dynamo, and starting from today, brands can join the streaming platform’s self-serve channel, Spotify Ad Studio.
Its Nigerian audience will be served a wide range of music catalogues that include both local and international music ranging from over 70 million tracks accessible on various devices.
AOP s Richard Reeves on Stuff, Google vs US Publishers, and Spotify Audience Network
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Spotify looking to bring Ad Studio to India
March 03, 2021
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Media and entertainment, technology, and FMCG companies have emerged as the key advertiser segments for music streaming giant Spotify in India.
The company had forayed into India in 2019.
The company said that it is working with over 100 brands in India which include media and entertainment firms especially OTT players, tech players, FMCG and consumer product companies, and automobile firms, among others
The music streaming giant is also looking at further strengthening ad revenues in the country by offering additional advertising tools.
Arjun Kolady, Head of Sales, Spotify India on Tuesday said that the company is looking to bring the company’s self-serve Ad Studio platform and podcast advertising technology called Streaming Ad Insertion (SAI) to India in the near future.
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