Spotify's monthly active users increased by 29% year-on-year to 232 million for the quarter ended June 30, 2019, outperforming its 222-228 million MAU guidance range. However, CEO Daniel Ek said this was not because of growth in the Indian market, which the company said “performed well and in line with expectations”. He said Spotify Lite - now in 36 countries - was among the reasons behind the increase in MAUs. Users listened to more than 17 billion hours of content, up 35% year-over-year. Ek also said that the company was looking to expand into the African, Russian and South Korean markets. It said that outperformance was mostly “broad based”, and cannot be attributed to specific reaons. It's worth noting that Asia remained Spotify’s fastest growing region. Spotify has reached agreements with two out of their four major music labels on…
