Spotify posted its quarterly report, and the numbers look promising. During the final three months, the streaming platform elevated its MAU (month-to-month active users) by 28 million, surpassing its expectations and reaching 600 million, a brand new excessive for the Swedish firm.
Revenue for the full 2023 was €3.7 billion (about $4 billion), which is 16% greater than 2022. Operating earnings did slip into the crimson with a lack of €75 million, however the firm boasted that its advert revenues reached an all-time excessive of €501 million.
The 602 million active users embody 236 million Premium subscribers. The relaxation are a part of the free service that comes with adverts and lacks options like no shuffle and downloading music for offline listening. The paying users elevated from 205 million in This autumn 2022, which is 15%.
The monetary report revealed Spotify had sustained yearly progress in all areas, with Latin America excelling.
According to inside knowledge, 225 million users tuned in for Spotify Wrapped, which is a marketing campaign at the finish of the 12 months that gives a personalised abstract of each person’s listening habits. All paying clients in the United States at the moment are capable of decide from over 200,000 audiobooks with as much as 15 hours of entry per thirty days.
Expectations for Q1 2024 are for the person base to achieve 618 million whereas paying clients are predicted to extend by 3 million.
Source