Spotify, the popular audio streaming application, reached 172 million paid subscribers globally during Q3 2021, representing an increase of 4% compared to the previous period, as announced in its latest report. In addition, advertising revenues grew 75% compared to 2020, and the company ensures that both growths were driven by streaming podcasts.
In Latin America, more and more operators and traditional media are integrating audio streaming options for their clients, and in recent times, platforms such as Spotify have obtained a large number of users in the region. On November 3 and 4, Dataxis will organize the virtual event Next Audio Latin America 2021, where professionals from the radio and sound industry will talk about the podcast revolution and its future.
“Since its launch, the number of podcasts on our network has grown by more than 50% and almost one in five Spotify advertisers is already participating“, the company explained. By the end of September, the platform reached 3.2 million programs in its library, 300 thousand more than at the end of Q2 2021.
“Our podcast business was fueled by strong double-digit year-over-year growth in existing Spotify studios (The Ringer, Parcast, Spotify Studios, and Gimlet) along with the acquisition of Megaphone (podcast advertising company) and license exclusive to Joe Rogan Experience, Armchair Expert with Dax Shepard and Call Her Daddy”, Spotify added.