Spotify released its latest quarterly results today, revealing strong year-over-year growth across a broad range of KPIs. Monthly active users and premium subscriber numbers underwent significant growth, at 31 and 29 percent respectively. Gross profit was also up 19 percent on the back of a 24 percent rise in total revenue. The release also highlighted the increasing importance of podcasts. With hours streamed up by 200 percent on the previous year, Spotify added: "We have seen early indications that our investments in podcasts are having a positive impact on conversion of free to paid users".