FILE PHOTO: A smartphone is seen in front of a screen projection of Spotify logo, in this picture illustration taken April 1, 2018. REUTERS/Dado Ruvic/Illustration
(Reuters) - Spotify investors will focus on how much its 'Netflix for audio' strategy is costing the streaming service when it reports fourth-quarter results on Wednesday against the backdrop of several angry high-profile artists withdrawing their tracks.
Over the past four years, Spotify has spent more than $1 billion on podcasts such as Joe Rogan's in an attempt to triumph over rival music subscription services from Apple and Amazon.
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