Read this article from the wall street journal and write a one page SWOT analysis

Spotify Technology SA SPOT 6.68\% \& reported strong user growth but another quarterly loss amid a restructuring and after the company invested extensively to build its podcast business. The audio company, which last week laid off employees and reorganized its top brass, said it aims to become a more efficient business this year following an intense period of spending. Spotify's chief content and advertising business officer, Dawn Ostroff, will leave the company. She spearheaded the company's expansion into podcasting, helping acquire studios and sign deals with high-profile figures such as Joe Rogan, Michelle Obama and Kim Kardashian. On a call with analysts and investors, Chief Executive Daniel Ek said that the company's strategy hasn't changed and that he still believes it was the right call to invest. "I would do it again," he said, pointing to user growth and product improvement around the world. But he also said that the macroenvironment has changed significantly in the past year. "In hindsight, I probably got a little carried away and overinvested relative to the uncertainty we saw shaping up in the market," said Mr. Ek. "So we are shifting to focus on tightening our spend and becoming more efficient." Spotify also beat analysts' expectations for revenue, and shares in the Stockholm-based company rose around 10\% Tuesday morning in New York. Mr. Ek also said that when Spotify four years ago entered into podcasting, the major player that had dominated the space for 20 years- Ap ple Inc.-was considered unassailable. He said that Spotify not only took users from other platforms but also grew the medium meaningfully. Going forward, he said in an interview, "you can expect us to look at all these investments and double down on what works. And there will be things that didn't work as anticipated, and those things we will not continue to do." He said the reorganization-which centralizes the majority of engineering and product work under Gustav Sderstrm as product chief, and the business areas under Alex Norstrm as business chief-is meant to drive speed and more efficiency. "Spotify is a lot more complex of a business than it was several years ago," said Mr. Ek. "To have both Gustav and Alex help me in the dayto-day in this much more complex business, I think, will materially mean that we'll have more brains thinking about these things." Spotify reported 489 million monthly active users, up 20% from a year earlier and besting the company's guidance. The company highlighted growth in India and Indonesia as a A Spotify podcast studio. The company has been result of marketing campaigns, as well as building its podcast business. strength from its eighth annual Wrapped PHOTO: PHILIP CHEUNG FOR THE WALL campaign and the holiday season. STREET JOURNAL Paying subscribers, Spotify's most lucrative type of customer, rose 14% to 205 million, also beating the company's expectations, due to promotions and household plans. Just before the quarter started, Spotify introduced its expansion into audiobooks, another move in the company's evolution from a pure-play music service to a more diversified audio business. Users can now purchase and listen to a catalog of more than 300,000 titles from independent authors and major publishers on a pay-per-download basis. On Tuesday, Mr. Ek said that the business is seeing some encouraging signs but that getting Spotify and the audiobook category where he wants them to be will take time. Mr. Ek has said Apple Inc.'s App Store policies have hampered the rollout of its audiobook offerings. Spotify has directed users to make purchases through a web browser instead of inside the app. While it is a more cumbersome user experience, the move means Apple won't be taking up to a 30% commission for downloads. Spotify has been fighting Apple over its in-app purchase policies for years. Free cash flow, a measure of the cash a company generates from operations and viewed by many investors as a proxy for performance, was negative 73 million-equivalent to about negative $79 million-compared with 103 million a year earlier and 35 million in the prior quarter. The company, which had warned it would likely be negative for the period due to the timing of certain payments, said the metric was positive for the full year, a trend it expects to continue on a full-year basis going forward