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Axios says that Spotify reported strong first-quarter revenue growth with subscriber growth and gross margins at the top end of their predicted range. They say they grew premium subscribers by 4 million increasing their overall totals by 21%
This follows their news of a new paid subscription plan for podcasting which should only add to this number. They’ve been betting big on podcasts since they signed Joe Rogan in 2020 to an exclusive multi-year deal for reportedly more than $100 million dollars and before that when they spent a reported $340 million dollars to buy Gimlet Media and Anchor.