210 million people now subscribe (i.e. pay) to Spotify
Spotify released their Q1 results for 2023 today (April 25) announcing an additional five million Premium (paid) subscriptions, pushing the global total to 201 million. Add in the people who use the free tier every month, and the number of active Spotify users is now 515 million. The highest growth was seen in Europe and Latin America.
Revenue was up, too (14% y-o-y) but that was below expectations. And even though €3.04 billion came in the door, the company still lost €156 million.
How is that possible? Because of the licensing requirements imposed on Spotify by rightsholders and record labels. Whenever revenue increases, expenses increase in lockstep. Under this scheme, it’s hard to see how Spotify would ever be profitable.
Predictions are that by the end of June, the paid subscriber number will be 217 million.
2 thoughts on “210 million people now subscribe (i.e. pay) to Spotify”
None of it is my money, as long as they pay a**holes like Rogan to spread his bulls**t far and wide, I’m out, lots of other options.
I couldn’t care less about his vaccine bulls**t, if he wants to place he and his family at risk, that’s his problem, it’s his homophobia, transphobia, use of the n-bomb, lies and ivermectin bulls**t is why I don’t listen. I trust science and he shoots himself with horse dewormer, so there that…