In its third quarter earnings report on Tuesday, Spotify noted that audiobooks (along with music) contributed to a gross margin increase for the brand’s premium offering, up 473 bps to 31.1 percent. Premium subscribers grew 12 percent compared to a year ago, up to 252 million. Those subscribers are up 6 million from the second quarter and the company expects to add another 8 million in the current quarter. Overall sales for the company were up 19 percent to €3.988 billion ($4.227 billion at current exchange rates) and operating income was €454 million. According to the Wall Street Journal, “a […]
