“FAZ”: Spotify wants to make up to 30% of its sales with advertising in the future.

It sounds like a piano: The streaming service Spotify wants to generate 20 to 30 percent of its sales with advertising in the future, says the head of advertising Lee Brown in front of the “FAZ”. The company is also pursuing this strategy with regard to “new hires”. In the last quarter, advertising accounted for 13% of the approximately 3 billion euros in turnover of the Swedes, equal to 385 million euros. Most of the money comes from subscription revenue. Revenue growth fell from 31% to 19% in a quarter, in part due to a lack of advertising bookings during the crisis, but that won’t “dissuade Spotify from this strategy,” according to Lee. Advertisers are primarily interested in podcasts, which is also in the spirit of Spotify, which is becoming increasingly independent of the music industry. This currently accounts for about two-thirds of streaming services revenue.
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