(Reuters) – Audio streaming platform Spotify (NYSE) Technology announced Wednesday its quarterly revenues. This was a result of higher advertising revenue and more subscribers to the premium service.

The company is big on podcasts and has invested over $1 billion in acquisitions of shows such as “The Joe Rogan Experience” (and other businesses) to increase users’ access to non-musical music audio.

The total monthly active users increased 19% to record 422 millions in quarter.

In the first quarter, revenue rose 24% to 2.66 billion euro ($2.82 million). Refinitiv data shows that analysts expected revenues of 2.62 Billion Euros, on an average.

($1 = 0.9417 euros)