Spotify Reports $100M Loss Despite Subscriber Growth, Names Dual CEOs
Spotify, the world's leading music streaming service, has reported a net loss of around $100m (£74m) in the second quarter of the year, despite adding new subscribers. The company also announced a significant leadership change, shifting to a dual-CEO model.
Spotify's subscriber base grew, but so did its costs, leading to the net loss. The company has decided to change its leadership structure, with current executives Gustav Söderström and Alex Norström set to become co-CEOs in January 2026. Current CEO and co-founder Daniel Ek will transition to the role of executive chairman.
In other news, ad tech company The Trade Desk has launched Audience Unlimited, an upgrade to its third-party data marketplace. This new tool uses AI to evaluate and score thousands of data segments, then bundles them at a fixed rate for digital advertising. Meanwhile, Epic Games has seen a significant reduction in user drop-offs for installing its game store on iOS 18.6, from 65% to 25%.
Spotify's leadership change and increased costs will likely shape the company's future strategies. The Trade Desk's Audience Unlimited offers a new tool for digital advertisers, while Epic Games' improved installation rates may boost its iOS user base.
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