Spotify reported a Q3 surge of 26% in monthly users to 574 million, exceeding its guidance and analysts’ expectations.
After a boom during the pandemic, streaming collections have doubled from their pre-Covid levels and account for 35% of total collections for music creators, surpassing TV and radio. It warned, however, that the outlook beyond 2023 was uncertain because of concerns over consumer spending and tightening touring budgets of artists.
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