The company’s podcast ad revenue is up more than 600 percent since last year.

Spotify’s big bets on podcasting are paying off.

During its second quarter earnings call Wednesday, the audio streaming company revealed that users listened to 95 percent more hours of podcasts compared with the same period last year. That’s had big financial ramifications: The company’s podcast ad revenue is up 627 percent year over year.

Source: Think Podcasts Are Done? Spotify’s Q2 Earnings Will Shock You |