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There were still red figures of 302 million euros in the second quarter. Spotify gained 6 million subscriber customers and 23 million total users in three months. Spotify announced Tuesday that the service currently has 574 million users, 226 million of whom are paid subscription customers. This was two million more than the company had promised.
Spotify expects a significant increase to 235 million subscription customers and 601 million total users in the latest quarter. The Swedish company is considered by far the number one in music streaming, ahead of Apple and Amazon.
Quarterly sales rose 11 percent year-on-year to approximately 3.36 billion euros. Advertising revenue from the free version and podcasts increased by 16 percent to 447 million euros, while revenue from the subscription business increased by 10 percent to 2.9 billion euros. Spotify increased subscription prices in many countries in July, and Germany followed suit in early October. (SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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