Apr 29, 2020
Spotify Says Every Day for Users ‘Now Looks Like the Weekend’
(Bloomberg) -- Spotify Technology SA’s results might be a case study in how humans react to periods of great stress.
In Wednesday’s earnings release, the streaming company details how people use its service, saying that “every day now looks like the weekend” as usage in car, wearable and web platforms drops while TV and game-console use increases “materially” (in excess of 50%). The ratio of daily active users to monthly active users was “strong,” it says.
The company also notes ways listeners are trying to cope during the crisis:
“Two in five consumers we surveyed in the U.S. said they were listening to music to manage stress more than they typically do, which explains the recent rise we’ve seen in searches for ‘chill’ and ‘instrumental,’” Spotify says in its release. “We’ve also seen an uptick in consumption of podcasts related to wellness and meditation over the last few weeks.”
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