Spotify’s monthly active users exceeded 600 million
- February 6, 2024
- 0
Streaming service Spotify said the number of monthly active users has already exceeded 600 million, according to its fourth quarter 2023 results. This was reported by Variety, as
Streaming service Spotify said the number of monthly active users has already exceeded 600 million, according to its fourth quarter 2023 results.
This was reported by Variety, as reported by Ukrinform.
In the fourth quarter, Spotify added another 28 million monthly active users, bringing its total to 602 million.
The platform also announced an additional 10 million Premium subscribers, bringing the total to 236 million already.
It was stated that the company reported a revenue of 3.67 billion euros in the last quarter of last year, in line with the estimates, and the company’s net loss of 70 million euros was higher than expected due to marketing and personnel costs.
CEO Daniel Eck drew attention to Spotify’s record user increase in the fourth quarter of 2023.
In the first quarter of 2024, Spotify is expected to reach 239 million Premium subscriptions (up 3 million) and total monthly active users to 618 million (up 16 million).
As reported by Ukrinform, in December Swedish music streaming giant Spotify announced that 17% of its employees, or approximately 1,500 people, would be laid off due to the company’s desire to cut costs.
Source: Ukrinform
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