On The Spot: ‘Big Tech’ Audio Goliath Enjoys Q3 Ad Growth

The fiscal report card for the world’s most prominent on-demand audio distribution platform has been released, and the biggest takeaway for analysts focuses on an area of deep focus for radio broadcasting companies of late: advertising. For Spotify, global ad-supported revenue grew by 9% in constant currency terms, Madison & Wall’s Brian Wieser points out. There’s much growth ahead, too, as Jeff Wlodcarzak of Pivotal Research Group raised his target price on the company’s stock.