Spotify Reaches 108 Million Subscribers But Misses Its Quarterly Forecast

Streaming audio giant Spotify said it added 8 million subscribers in the quarter ending June 30, undershooting its estimate of 8.5 million additions. The company, which has been moving aggressively…

said it added 8 million subscribers in the quarter ending June 30, undershooting its estimate of 8.5 million additions.Dawn Ostroff

“We missed on subs. That’s on us,” the company explained in a letter to shareholders. “The good news is that the shortfall was execution related, rather than softness in the business, and we expect to make up the lost ground before year-end.”Comcast Brass Update NBCUniversal Streaming Service Launch Timing, Address 'Office' Deal

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