Spotify has released its quarterly report, and the numbers it contains look promising.
In the past three months, the popular streaming platform Spotify recorded an increase in the number of monthly active users by 28 million, thus exceeding expectations and breaking the 600 million user mark.
It is also a new record for the Swedish company.
Revenue in 2023 amounted to 3.7 billion euros, which is 16 percent more than in 2022. Operating income fell “into the red” due to a loss of 75 million euros, but the company boasted that its advertising revenues reached a record 501 million euros.
The total number of 602 million users includes 236 million Premium subscribers, and the rest are part of the free service that comes with ads and has no features such as “no shuffle” and the ability to download music for offline listening. The number of subscribers increased from 205 million in the fourth quarter of 2022 by 15 percent.
The financial report reveals that Spotify maintained year-over-year growth in all regions, while Latin America delivered excellent results.
Internal data showed that 225 million users opted in to Spotify Wrapped, an end-of-year campaign that provides a personalized summary of each user’s listening habits.
Expectations for the first quarter of 2024 include an increase in the user base to 618 million users, while the number of those paying for the service should increase by 3 million, Klix.ba writes.
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