Spotify said all regions except Latin America came back by the end of June following consumption declines because of the coronavirus
By Anne Steele Close Anne Steele July 29, 2020 6:00 am ET Spotify Technology SA SPOT -1.97% deepened its loss in the three months ended June 30, as its recent stock run-up came with higher-than-expected payroll taxes that offset strong user growth.
At the end of the second quarter Spotify had 299 million monthly active users and 138 million paying subscribers, its most lucrative type of customer, with both coming in at the top of its guidance. Growth in North America was stronger than the company expected, more than making up for softness in Latin America and other emerging markets that saw upticks in subscriber cancellations and payment failures.
The company said 21% of its monthly active users now listen to podcasts, up from 19% in the previous quarter, while overall consumption of podcasts more than doubled.
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