[ad_1]
Streaming service Spotify introduced right this moment that the service now has greater than 600 million month-to-month energetic customers. The corporate mentioned in its This autumn 2023 earnings report that it added 28 million customers within the quarter, which marks the second greatest quarterly achieve within the firm’s historical past.
The Sweden-based firm famous that other than having 602 million customers now, the service has over 236 million paid customers — a year-on-year development of 15%. Final 12 months, Spotify raised the costs of its premium subscription tier within the U.S. for the primary time from $9.99 monthly to $10.99 monthly.
The corporate mentioned that the subscriber development was led by the Remainder of the World and Latin America, which represents 35% of whole paid customers.
Moreover, Spotify mentioned that its year-end Spotify Wrapped marketing campaign, which provides insights to customers about what they consumed on the platform, drew greater than 225 million customers.
In November, the corporate introduced that premium customers within the U.S. could have 15 hours of listening time monthly throughout 200,000 titles. It additionally partnered with TikTok to let customers save a music in a clip on to the Spotify app.
The corporate earned €3.7 billion ($3.97 billion) in revenues with a year-on-year development of 16%. It registered an working lack of €75 million, which is healthier than the lack of €231 million final 12 months for a similar interval. Nevertheless, Spotify made €32 million in earnings in Q3 2023. The corporate’s advert revenues have jumped to an all-time excessive of €501 million with 12% year-on-year development.
In December, the corporate minimize 17% of its workforce, or about 1,500 individuals to grow to be extra “productive and environment friendly.”
Final month, Spotify teased mockups of how EU-based customers might be capable of buy subscriptions and add-ons like audiobooks on iPhones as soon as the Digital Markets Act (DMA) goes into impact. Days later, Apple launched its tips about App Retailer adjustments to adjust to the brand new guidelines, together with a brand new “core-tech payment” for over one million annual downloads. In response, Spotify known as Apple’s adjustments “extortion” and a “full and whole farce.”
[ad_2]
Supply hyperlink
