spotify recorded some casualties Sales of 430 million euros in 2022. music Y podcasts à la carte published its results for the fourth quarter of last year on Tuesday, and the numbers show that its business is turning red once again. Still, its revenue and number of paying users continues to grow. “Despite a challenging year, we have completed 2022 strongly,” said its CEO. daniel annex.
In the last three months of 2022, Spotify recorded 270 million losses. These losses are due to increased personnel costs and increased advertising costs due to the growth of the workforce. Streaming giant last week to limit those costs dismissal approximately 600 employees, equivalent to 6% of its team. “I was very ambitious to invest before our revenue growth,” Ek admitted.
However, it’s not all bad news. Spotify currently has 205 million users paying to use an enhanced version of their service, 14% more than the previous year. Thus, it becomes the first music listening platform to exceed this number of subscribers. Those good signs saw Spotify shares grow 3%.
The company also closed the year 2022 with a fire. Income up to 3,170 million euros. In both cases, analysts’ growth expectations were exceeded. Even so, revenue-related costs, namely payments, skyrocketed. artists Y record tags for Copyright distributed music.
500 million users
Spotify closed 2022 with 489 million users monthly assets that add both payers and users of their services advert. The company estimates that it will exceed 500 million users in the first quarter of 2023, and also predicts an increase in the number of users. subscribers Premiums up to 207 million.
This mixed picture highlights the difficulties of Spotify’s business. Since its founding 17 years ago, in 2006, the company has never made an annual profit. It was hit by the economic turmoil that hit the tech industry last year, and its shares lost nearly 50% of its value.
Source: Informacion
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