Spotify shares fell 4.9% on Monday after Amazon expanded its free music service to iPhone, Android and Fire TV.
that it had turned a surprise profit in the third quarter. In that report, Spotify said the number of premium subscribers rose 26 million in the past year to 113 million people at the end of September.
Spotify has 248 million monthly active users, including people who don't pay for premium subscriptions. The company predicted that number would grow to between 255 million and 270 million in the fourth quarter. Amazon Prime customers get access to more than 2 million songs ad-free as part of their membership but can upgrade to Amazon Music Unlimited for $7.99 per month . Amazon also recently introduced
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