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Spotify Technology SA (SPOT) is a Swedish public company that is the largest music streaming service in the world. It was founded in 2006 and was listed on the New York Stock Exchange (NYSE) through a direct public offering in April 2018.

In terms of financial performance, Spotify has shown consistent growth since its inception. In Q3 2021, the company reported revenue of €2.5 billion ($2.9 billion), an increase of 27% year-over-year. The company's monthly active users (MAUs) grew to 381 million, an increase of 19% year-over-year, and premium subscribers reached 172 million, an increase of 16% year-over-year.

Spotify's gross margin was 24.8% in Q3 2021, a decrease from 25.5% in Q3 2020, due to an increase in royalty costs and other operating expenses. However, Spotify's operating loss decreased to €6 million ($7 million) in Q3 2021, from €84 million ($97 million) in Q3 2020, as the company continues to focus on cost management and operational efficiency.

One of Spotify's key growth strategies has been to expand its presence in emerging markets, such as India, Russia, and Latin America. The company has also invested heavily in podcasts and other forms of audio content to diversify its offerings and attract new users.

However, Spotify faces intense competition from other music streaming services, such as Apple Music, Amazon Music, and Google Play Music. These companies have deep pockets and can afford to subsidize their music streaming services, making it difficult for Spotify to compete on price.

In conclusion, Spotify has shown strong financial performance and consistent growth, but the company continues to face intense competition and pressure to increase profitability. Investors in Spotify should closely monitor the company's ability to maintain its market leadership position and drive long-term growth.