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Spotify claims to have uncovered 2 million users who have blocked ads without paying

"What's Facebook?" Musk on Friday morning sarcastically replied to a tweet from WhatsApp co-founder Brian Acton urging his followers to delete Facebook.

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Indo Asian News Service|Mar 24, 2018, 09:32:40 IST
Spotify Technology SA said on Friday it uncovered 2 million users of its free service who had blocked advertising without paying, highlighting a potential revenue risk for the soon-to-be public company.[caption id="attachment_4309879" align="alignleft" width="380"]Spotify. Reuters.

Spotify. Reuters.[/caption]In an amended version of the share prospectus filed last month, the Swedish company said it continues to be impacted by third-party attempts to gain unauthorised access to its premium service.The music-streaming company previously included the 2 million users in calculations for some of its key performance indicators, including MAUs, ad-supported users, content hours, and content hours per MAU.Spotify said it currently does not have the data to adjust previously provided key performance indicators, and as a result certain metrics may be ‘overstated’ in its prospectus.The company had 157 million active users as of 31 December, of which about 71 million were paid subscribers who access ad-free versions of the service, according to its website.Spotify had filed this week for a direct listing of its shares, instead of a traditional IPO. The direct listing will let investors and employees sell shares without the company raising new capital or hiring a Wall Street bank or broker to underwrite the offering.

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First Published:Mar 24, 2018, 09:32:40 IST
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