Spotify user base increases in Q3 2019 as podcast engagement goes up

Spotify announced its Q3 2019 results, reporting a 30 per cent year-on-year increase in monthly active users at 248 million.

The audio streaming platform highlighted that podcasts are driving user engagement. Spotify recorded a 39 per cent increase in podcast hours streamed quarter-on-quarter, the official blog notes.

Spotify now boasts 113 million premium subscribers, a 31 per cent year-on-year increase. The company expects this figure to grow to 120-125 million for Q4 2019.