By Jill Goldsmith Spotify shares jumped more than 12% Wednesday morning on stong quarterly numbers that showed a shift in listening patterns shifted solid subscriber growth last quarter amidst a global pandemic.
The Stockholm, Sweden-based music streaming giant said monthly average users jumped 31% to 286 million, including 130 million premium subscribers and 163 million ad-supported.
Listening through TV and game consoles jumped more than 50% last quarter from the year earlier in the U.S and 40% globally as drive-time streaming, listening on the go, at the gym fell, obviously, and advertising was soft.
CEO Daniel Ek noted on a conference call that consumers are “creating new habits” for listening at home, and that advertising is a
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