STOCKHOLM—Spotify Technology SA beat Wall Street estimates for third-quarter revenue as more paid subscribers signed up for its premium service and advertisers lined up to air ads in between music and podcasts. Premium subscribers, which account for most of the company’s revenue, hit 172 million, just beating analysts’ expectations of 171.7 million. Total monthly active users rose 19 percent to 381 million. Spotify earns from subscriptions and by presenting adverts to non-paying members. Revenue from ads, which fell at the height of the pandemic, jumped 75 percent to 323 million euros ($376 million), and the company is planning to hire hundreds of staff to further boost advertising sales. The company has also been investing heavily in its podcast business to rival that of Apple and later launched a paid subscription platform for podcasters in the United States and opened it up for advertising. “We are seeing lots of demand on …