Spotify (SPOT) is scheduled to report results of its second quarter before market open on Wednesday, July 31, with a conference call scheduled for 8:00 am ET. What to watch: 1. USER METRICS: Spotify’s monthly active users, or MAUs, are a measure of its popularity and growth potential. In the first quarter, Spotify reported 217M MAUs, up 26% year-over-year, and 123M ad-supported MAUs, up 21% year-over-year and 6% quarter-over-quarter. In addition, the company reported that Premium Subscribers grew to 100M, up 32% year-over-year. In the report, Spotify noted that it launched in India in late February, expanding its global market footprint to 79 countries. “More than 1M users signed up for Spotify in our first week in the market, and growth has continued to outpace our expectations. We now have more than 2M users in India,” the company said. Watch for updated numbers in the report, as well as management commentary on user engagement. 2. GUIDANCE: With its last report, Spotify guided to Q2 revenue of EUR1.51B-EUR1.71B, up 18%-35% year-over-year. The company also forecast Q2 total MAUs of 222M-228M, up 23%-27% year-over-year, and total Premium Subscribers of 107M-110M, up 29%-34% year-over-year. 3. INITIATIVES, PARTNERSHIPS: Since Spotify’s direct listing in April 2018, the company has taken on a number of initiatives and formed partnerships to attract consumers and improve user experience. In May, the company announced Soundtrap for Storytellers, a cloud-based one-stop shop for podcast creation that helps podcasters share their stories. The comprehensive podcast creation tool offers recording, remote multi-track interviewing with video chat, smart editing of audio as a text document, full audio production, direct-to-Spotify publishing of the podcast, and transcript publishing to optimize SEO all in one service. In June, Higher Ground, the production company of former president Barack Obama and Michelle Obama, announced a partnership with Spotify to produce podcasts exclusive to the platform. Under the Higher Ground partnership, President and Mrs. Obama will develop, produce, and lend their voices to select podcasts. The multi-year agreement will be with Higher Ground Audio, an expansion of the Higher Ground production company that will oversee the move into podcasts. Additionally in June, the company introduced a new version of Your Library to Premium users. At the time, Spotify said, “Everything about the reimagined Library is designed to get you to the content you want faster. It also makes getting started and staying up-to-date with podcasts on Spotify a seamless, personalized experience.” Spotify also announced in June that it would be joining Facebook’s (FB) Libra Association. Alex Norstrom, chief premium business officer, said, “One challenge for Spotify and its users around the world has been the lack of easily accessible payment systems – especially for those in financially under-served markets. This creates an enormous barrier to the bonds we work to foster between creators and their fans. In joining the Libra Association, there is an opportunity to better reach Spotify’s total addressable market, eliminate friction and enable payments in mass scale.”