Spotify , the world’s most popular digital music service provider , published its financial report for the first quarter of 2024. Accordingly, the number of subscribers of the company, how much money it earned and its net profit became clear. Here is Spotify ‘s financial information…
The number of Spotify subscribers approached 240 million
According to the information shared by Spotify , the service’s annual revenue increased by 20 percent and reached 3.6 billion euros . The company’s profit was announced as 168 million euros . Analysts’ expectation was 156.4 million euros . In this context, we can say that the company exceeded expectations. So, does this also apply to the number of subscribers?
The number of Spotify paid subscribers increased by 14 percent, reaching 239 million . The total number of active users, including advertising, increased to 615 million . At this point, analysts’ forecast was for 617.9 million .
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- Annual revenue: 3.6 billion euros (+20%)
- Profit: 168 million euros
- Number of paid subscribers: 239 million (+14%)
- Total number of active users: 615 million
Aside from the number of subscribers and revenue , Spotify drew reaction from users last year for increasing subscription fees. However, various sources expect the company to increase its prices again soon. However, it is also among the information that Spotify is working on a new subscription plan that does not include audiobooks. This new plan may come with a lower price because it will offer less content. For this reason, it can be preferred by users who do not want to listen to audio books.
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