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  "documentTitle": "2024 Q3 Shareholder Deck",
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      "text": "* Constant Currency adjusted measures are non-IFRS measures. See \"Use of Non-IFRS Measures\" and \"Reconciliation of IFRS to Non-IFRS Results\" for additional information. ARPU means Premium Average Revenue per User. * Last Twelve Months (LTM) represents annual performance covering the preceding 12 months relative to the last day of the quarter.",
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      "text": "Advertising growth in challenging brand environment",
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      "text": "Ad-Supported Revenue grew 6% Y/Y (or 7% Y/Y constant currency*), reflecting Y/Y growth across all regions. Music advertising was driven by growth in impressions sold, partially offset by softness in pricing. Podcasting advertising was driven by growth in impressions sold, partially offset by softness in pricing. The Spotify Audience Network saw high single digit Q/Q growth in participating publishers.",
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      "text": "Premium Revenue grew 21% Y/Y to €3,516 million (or 24% Y/Y constant currency*), reflecting subscriber growth of 12% Y/Y and a Premium ARPU increase of 9% Y/Y to €4.71 (or up 11% Y/Y constant currency* vs. 10% Y/Y in Q2'24). Excluding the impact of FX, ARPU performance was driven by price increase benefits, partially offset by product/market mix.",
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