Spotify losses triple in 2020 despite more subscribers

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STOCKHOLM, Sweden (AFP) — Swedish music streaming giant Spotify on Wednesday reported a tripled net loss in 2020, citing increased operating expenses, even as the number of paying subscribers continued to increase. At the end of 2020, the number of monthly active users was 345 million, a 27-percent increase compared with a year earlier. Paying subscribers, the main source of revenue for the streaming service, stood at 155 million, a 24-percent increase. Spotify, which is […]