February 6, 2019 / 11:13 AM / 18 days ago

Spotify reports 30 percent rise in quarterly revenue

Feb 6 (Reuters) - Spotify Technology SA on Wednesday reported a 30 percent rise in fourth-quarter revenue, as the music streaming company signed up more paid subscribers.

Monthly subscribers, which account for nearly 90 percent of its revenue, rose to 96 million at the end of December, up from 87 million in the prior quarter.

Revenue rose to 1.5 billion euros ($1.71 billion) from 1.15 billion euros a year earlier.

Separately, the company said it will acquire podcast companies Gimlet Media Inc and Anchor, but did not disclose the financial details. ($1 = 0.8779 euros) (Reporting by Munsif Vengattil in Bengaluru; Editing by Arun Koyyur)

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