The streaming platform Spotify has already generalized the function so that while you listen to a song you can see the lyrics in real time.

Its use began to be tested in November last year and since July all users have it.

Also this week Spotify said demand for streaming music recovered after weakness related to the coronavirus crisis at the beginning of the quarter and that its paid subscribers reached 138 million, above Wall Street expectations.

Still, the company's quarterly billing fell short of analyst estimates, mostly affected by a 21% drop in ad revenue, as the spread of the pandemic kept advertising spending away.

Shares of the Swedish company, which have gained about 80% since the start of the year, were down 3%, at $ 253, before the opening of the US market.

Spotify Technology SA, which leads the music market by streaming ahead of rivals such as Apple Inc and Inc, receives revenue from paid subscriptions and showing ads to its free users.

Premium subscribers, which account for the majority of the firm's revenue, increased 27% from a year ago. Analysts on average expected Spotify to reach 136.4 million paying subscribers, according to Refinitiv's IBES data.

The world's largest streaming music service told its investors that the fact that people no longer have to commute to their jobs would not have a very profound effect on their finances and that they would reach their goals for the year.

Spotify expects total revenue in the range of 1.85 billion euros and 2.05 billion euros for the third quarter. Analysts on average estimate 2010 million euros.

Turnover increased 13% to 1.89 billion euros (2.22 billion dollars) in the three months ended June 30, but was below analyst estimates of $ 1930 million. (I)


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