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Developing markets star in another dazzling Spotify quarter

Spotify’s latest heroics put the music streaming service leaps and bounds ahead of its main competitors in terms of subscribers, with 248 million monthly active users (MAUs) dwarfing Apple Music’s 56 million users as of June this year. Even Amazon’s attempts at bundling music streaming with smart speakers and Prime delivery services have proven mostly fruitless – resulting in a measly total of 32 million users across all services, as of July. The performance gap is daunting. Compared with Amazon, Spotify boasts double the monthly intake of subscribers, double the rate of monthly engagement, and half the rate of churn. Looking at the financial side of the coin, Spotify’s revenue and profits continue to rise as the company expands further…

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