(Boursier.com) — Spotify gained 8% before market on Wall Street, while the Swedish music streaming service reported a strong increase in its subscriptions. At the same time, the group nonetheless widened its losses with podcast investments. Spotify therefore announced on Tuesday fourth quarter results above expectations in terms of active users and subscribers, and forecasts that the number of listeners will reach 500 million over the next quarter. The number of monthly active users rose to 489 million during the quarter, beating analysts’ forecasts. Premium subscribers, which account for the bulk of revenue, rose 14% to 205 million. Spotify expects premium subscribers to reach 207 million in the current quarter, for a turnover of 3.1 billion euros. Over the closed period, turnover represented 3.2 billion euros, slightly above analysts’ estimates. The company has invested over $1 billion in growing its podcast business, which currently has over 4 million titles. The net loss for the fourth quarter reached 270 million euros, against 39 million a year earlier.
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