Spotify reports $118 million loss despite adding more users, paid subscribers

Spotify bled about $118 million in profit in the third quarter of 2020, despite its active monthly user count increasing 29% during the period.

Credit: Spotify
The chief Apple Music competitor now has 320 million monthly active users and 144 million paid subscribers. Spotify attributed the growth in both of those sections to marketing in India and a launch in Russia and 12 other markets.

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