Spotify exceeded expectations, broke another record in subscriber count

Spotify once again declared that it exceeded expectations with its quarterly report. The music streaming giant has also set a new record with its new subscriber count. However, all this was still not enough for Spotify…

Spotify announced its 4th quarter benefits, with an increase of 10 million compared to last quarter. announced that it has reached 205 million premium subscribers.It also showed revenues of 3.17 billion Euros ($3.43 billion), exceeding expectations in both subscriber numbers and sales.

Spotify currently includes ad-enhanced free subscribers, It has about 500 million monthly active users.

Still, the CEO Daniel Ekof ” too ambitiousThe loss continues due to attacks described as “I”. For the whole of 2022, the company generated revenues of 11.7 billion euros ($12.7 billion). The loss was announced as 430 million euros ($ 466 million).

Spotify says the losses were due to currency fluctuations, as well as “rising labor costs, mainly due to increased worker numbers and higher advertising costs.” The company has recently lay off 6% of its workforcealso supports this statement.

For the next quarter, Spotify claims it will exceed half a billion monthly active users and reach 207 million premium subscribers.