Spotify predicts weaker than expected user growth as profits are hit by investments in marketing and AI

Spotify - which features artists such as Olivia Dean and Taylor Swift (pictured) - is predicting monthly active users will grow to 788m by the end of September.

Spotify said higher marketing and development costs would hurt its profit in the current quarter as the Swedish music-streaming giant bets heavily on features powered by AI to attract users.

Spotify's higher spending on marketing, AI features to hit profit  Reuters

Spotify said it expects operating income of €670 million (US$770.97 million) in the third quarter, below analysts' average estimates of €677.8 million.

Aug 4 : Spotify forecast third-quarter profit below Wall Street estimates on Tuesday, after the streaming giant reported slowing user growth in major markets of Europe and North America, driving shares around 5 per cent lower in premarket trading. The Swedish company has launched AI features like "Personal Podcasts" an

The Minister for Energy and Green Transition, Dr John Abdulai Jinapor, has commended Ghana National Gas Limited Company (Ghana Gas) for its strong operational and financial performance, describing the company as a key contributor to Ghana’s energy security and industrial growth.

E-mails are being sent to unwitting Spotify users saying payments couldn’t be processed because of issues with cards.