Economic TimesLean R·
Spotify's higher spending on marketing, AI features to hit profit
Spotify anticipates that increased marketing and development expenditures will adversely affect profits in the current quarter. The platform forecasts its third-quarter monthly active users to fall short of Wall Street's expectations, a decline attributed to product changes in emerging markets. To counteract this, Spotify is investing significantly in AI features aimed at attracting and retaining its user base, alongside introducing a new agreement for fan-generated covers and remixes.
Read at Economic Times →
