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# Spotify’s ad business still lags despite record user growth
- URL: https://www.medianexis.com/spotifys-ad-business-still-lags-despite-record-user-growth/
- Published: 2026-10-23T13:27:10.000Z
- Updated: 2026-10-23T13:27:10.000Z
- Description: Simon Owens writes that Spotify keeps posting strong earnings and user growth, yet its advertising business stays stuck. He argues audio ads can’t scale across platforms like display or video, and Spotify’s paying subscribers are largely ad-free anyway.
- Author: The Signals Desk
- Tags: Streaming, Simon Owens, Simon Owens: Spotify ad growth struggles

**Why it matters.** Advertisers get fewer scalable ways to reach Spotify’s most engaged, ad-free paying audience.

*Signal from* [*Simon Owens's Media Newsletter*](https://simonowens.substack.com/) *·* [*Simon Owens*](https://www.medianexis.com/tag/by-simon-owens/) *·* [*read the original*](https://simonowens.substack.com/p/why-spotify-is-struggling-to-grow)*.*