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  "documentTitle": "2025 Q3 Shareholder Deck",
  "authorId": "Spotify",
  "authorName": "Spotify",
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  "notes": "The chart shows a stacked bar chart of MAU regional distribution from Q3'21 to Q3'25.",
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      "text": "Total MAUs grew 11% Y/Y to 713 million, up from 696 million last quarter and 3M above our guidance.",
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      "text": "Y/Y and Q/Q growth across all regions, with outperformance led by Rest of World, Europe and North America\nGlobal launch of mobile free tier enhancements\nSuccessful marketing campaigns in select developing markets",
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      "text": "Total MAUs grew 11% Y/Y to 713 million, up from 696 million last quarter and 3M above our guidance. Quarterly performance reflected:",
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      "text": "Monthly Active Users (MAUs)",
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      "evidence": "Both slides use stacked regional bars (Europe / NA / LatAm / RoW) for MAUs and Subscribers.",
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