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Spotify Paid $56 Million For Parcast

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That number was revealed during an earnings call Monday when Spotify also announced it hit a new milestone: 100 million Premium subscribers. In all, Spotify has spent $400 million to acquire three podcast startups in 2019, Parcast, Gimlet and Anchor.

The company reported that subscribers rose 32% during the first three months of 2019, hitting “the high end” of its forecast of 97 million to 100 million. Spotify said its monthly average user base grew 26% to 217 million.

The company expects to have between 117 million and 127 million Premium subscribers by year-end, and a total of 245 million to 265 million.

Revenue rose 33% to $1.69 billion. The company’s net loss was $158.6 million far exceeding analysts’ expectations of a $91.8 million net loss.

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