An uptick in music streaming helped boost Spotify's top line during the first quarter this year as the company gained more subscribers during the coronavirus pandemic.
The Swedish music streaming company, listed on the New York Stock Exchange, reported a 22 per cent rise in revenue to €1.84 billion (Dh7.34bn) as the number of premium subscribers surged 31 per cent to 130 million, the company said in a statement on Thursday. Total monthly active users have also increased 31 per cent to 286 million.
“Despite the global uncertainty around Covid-19 in the first quarter, our business met or exceeded our forecast for all major metrics,” the company said. “For the second quarter and the remainder of the year, our outlook for most of our key performance indicators has remained unchanged with the exception of revenue where a slowdown in advertising and significant changes in currency rates are having an impact.”
The company recorded a third consecutive year-on-year growth in monthly active users (MAUs) above 30 per cent. Growth in North America accelerated for the second straight quarter “led by outperformance in the US" while Europe - the company's largest market - also performed well. Latin America and the markets classified as "Rest of World" continued to see the fastest growth, with those segments growing 36 per cent and 65 per cent year-on-year respectively.
“We continue to be excited by the growth trajectory and adoption of podcast content globally,” the company said.
“While the current environment has shifted listening patterns temporarily, nothing we have seen changes our long-term view of the potential for podcasts. Today, 19 per cent of our total MAUs engage with podcast content, up from 16 per cent in the fourth quarter of 2019, and consumption continues to grow at triple digit rates year-on-year.”
For the second quarter, Spotify expects to see 289 to 299 million MAUs while total premium subscribers could number between 133 to 138 million. Total revenue is estimated to be in the range of €1.75bn to €1.95bn.
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Dengue%20fever%20symptoms
%3Cul%3E%0A%3Cli%3EHigh%20fever%3C%2Fli%3E%0A%3Cli%3EIntense%20pain%20behind%20your%20eyes%3C%2Fli%3E%0A%3Cli%3ESevere%20headache%3C%2Fli%3E%0A%3Cli%3EMuscle%20and%20joint%20pains%3C%2Fli%3E%0A%3Cli%3ENausea%3C%2Fli%3E%0A%3Cli%3EVomiting%3C%2Fli%3E%0A%3Cli%3ESwollen%20glands%3C%2Fli%3E%0A%3Cli%3ERash%3C%2Fli%3E%0A%3C%2Ful%3E%0A%3Cp%3EIf%20symptoms%20occur%2C%20they%20usually%20last%20for%20two-seven%20days%3C%2Fp%3E%0A
MATCH INFO
Inter Milan 1 (Martinez 18' pen)
Juventus 2 (Dybala 4', Higuain 80')
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
if you go
The flights Fly Dubai, Air Arabia, Emirates, Etihad, and Royal Jordanian all offer direct, three-and-a-half-hour flights from the UAE to the Jordanian capital Amman. Alternatively, from June Fly Dubai will offer a new direct service from Dubai to Aqaba in the south of the country. See the airlines’ respective sites for varying prices or search on reliable price-comparison site Skyscanner.
The trip
Jamie Lafferty was a guest of the Jordan Tourist Board. For more information on adventure tourism in Jordan see Visit Jordan. A number of new and established tour companies offer the chance to go caving, rock-climbing, canyoning, and mountaineering in Jordan. Prices vary depending on how many activities you want to do and how many days you plan to stay in the country. Among the leaders are Terhaal, who offer a two-day canyoning trip from Dh845 per person. If you really want to push your limits, contact the Stronger Team. For a more trek-focused trip, KE Adventure offers an eight-day trip from Dh5,300 per person.
Ziina users can donate to relief efforts in Beirut
Ziina users will be able to use the app to help relief efforts in Beirut, which has been left reeling after an August blast caused an estimated $15 billion in damage and left thousands homeless. Ziina has partnered with the United Nations High Commissioner for Refugees to raise money for the Lebanese capital, co-founder Faisal Toukan says. “As of October 1, the UNHCR has the first certified badge on Ziina and is automatically part of user's top friends' list during this campaign. Users can now donate any amount to the Beirut relief with two clicks. The money raised will go towards rebuilding houses for the families that were impacted by the explosion.”
