NewsSpotify surpasses 205 million paid subscribers

Spotify surpasses 205 million paid subscribers

By the end of 2022, Spotify reaches a record 205 million paid subscribers.

Spotify’s financial report for the fourth quarter of 2022 contains one piece of good news and one piece of bad news. What exactly happened?

Spotify

Spotify surpasses 205 million paid subscribers, a new record

Spotify beat expectations and had 205 million paying subscribers by the end of the year, making it the first streaming service to surpass the 200 million subscription mark.

The monthly active users (MAU) of the service, including those who signed up for ad-acceptance use, reached 489 million. Comparatively, Spotify had 195 million premium subscribers and 465 million MAU at the end of the third quarter of 2017. The addition of 33 million MAU represents Spotify’s highest-ever fourth-quarter growth.

Spotify

Spotify’s Q4 loss increases, and the company will reduce operating expenses

And now for some bad news In an interview, CFO Paul Vogel stated, “We always knew that 2022 would be the year of investment and 2023 would be the year in which we would reduce investment. We will therefore reduce spending despite the increase in revenue.”

The company’s expansion into podcasts and audiobooks incurs additional expenses. This caused the fourth quarter loss to skyrocket from €39 million in 2021 to €270 million last year. This is due to higher advertising costs and the hiring of new employees, although Spotify announced last week that it would reduce its workforce by 6%, or about 600 people.

Spotify

Total revenue for 2022 is 3.2 billion euros, up 18% year-on-year, of which 2.7 billion euros are from paid subscriptions. Entering the podcasting business is proving to be a wise decision as it is considered one of the reasons Spotify‘s ad revenue grew to €449 during the quarter.

The company forecasts that it will surpass 500 million users in March and increase its paid subscribers to 207 million (CEO Daniel Ek explains that Q1 has always been the quarter with the lowest growth rate for the company).

With an eye toward the future, this year’s objective is to reduce operating losses. In the coming years, the target is to reach 1 billion users by 2030.

Here’s a note of interest: The eighth annual Spotify Wrapped campaign attracted 150 million MAUs, a 30 percent increase over the same period, and 111 markets.

5/5 - (1 vote)

Subscribe to our newsletter

To be updated with all the latest news, offers and special announcements.

iPhone 14 News Network

1,835FansLike
10FollowersFollow
23FollowersFollow
164FollowersFollow

Recent Articles

Related news

iPhone 15 Pro Max vs iPhone 12 Pro Max: Is it time for an upgrade?

The iPhone 12 Pro Max is still a great phone, but it's starting to show its age. The iPhone 15 Pro Max offers a number of significant improvements, including a faster processor, a better camera, and a longer-lasting battery. iPhone 15 Pro Max vs iPhone 12 Pro Max: Design and Size The iPhone 15 Pro Max has a slightly smaller design than the iPhone 12 Pro Max, with thinner bezels and a new Dynamic Island cutout...

Apple’s new 14-inch and 16-inch MacBook Pros: M3 chips, Space Black color option, and more

The world was first exposed to the new 14-inch and 16-inch MacBook Pro models, which are both equipped with the most recent M3 CPUs, at Apple's recent announcement event. The 14-inch MacBook Pro, which replaces the 13-inch M1 MacBook Pro, has the standard M3 chip and, most significantly, does away with the Touch Bar. The M3 chips are a major internal improvement. The M3 Pro and M3 Max models now come with the Space Black option...

Apple Introduces New 3nm M3 Chip with Strong GPU

With a GPU that is 65% faster than the M1, Apple's new 3nm M3 chip supports hardware-accelerated mesh shading and ray tracing. With the recent release of its new 3nm M3 chip, Apple has significantly improved the GPU. The chip will be offered in the recently revealed 14- and 16-inch MacBook Pro notebooks, along with a less expensive one found in the 24-inch iMac. The GPU, which is intended to enhance performance for professional applications and...

Apple unveils the new 24-inch iMac powered by the M3

Apple announces new M3-powered 24-inch iMac with more memory and ray tracing. At its "Scary fast" event, Apple revealed the new M3 chip along with new MacBooks that run on it. The Cupertino, California-based tech behemoth also unveiled a new 24-inch iMac that features ray tracing and an M3 processor for increased memory. The new M3 chip makes the M3 iMac up to 2x quicker than the M1 iMac, up to 2.5x faster than the Intel-based...

Apple Journal: An iPhone app for keeping personal journals

The much awaited Apple Journal app for the iPhone is about to launch from Apple. After being first revealed during the WWDC 2023 keynote, the app eventually debuted in late October 2023 as a part of the iOS 17.2 beta. What is Journal Apple? With Apple Journal, a digital journal, you may record your ideas, observations, and experiences in addition to adding media and other features. With the help of the app, you may easily and...

Apple Could Release a New iPad Mini at a Scary Fast Event

At Apple's upcoming "Scary Fast" presentation, multiple new gadgets, including new Macs powered by the M3 chip, are scheduled to be unveiled. According to reports, Apple may also announce a new iPad mini at the event. On October 30th, Apple will hold a rare nocturnal event nicknamed "Scary fast" since it is likely to showcase new Macs powered by the zippy 3nm M3, M3 Pro, and M3 Max chipsets. While speculations claim that new iPads...

iPhone 15 Pro Max vs iPhone 12 Pro Max: Is it time for an upgrade?

The iPhone 12 Pro Max is still a great phone, but it's starting to show its age. The iPhone 15 Pro Max offers a number of significant improvements, including a faster processor, a better camera, and a longer-lasting battery. iPhone 15 Pro Max vs iPhone 12 Pro Max: Design and Size The iPhone 15 Pro Max has a slightly smaller design than the iPhone 12 Pro Max, with thinner bezels and a new Dynamic Island cutout...

Apple’s new 14-inch and 16-inch MacBook Pros: M3 chips, Space Black color option, and more

The world was first exposed to the new 14-inch and 16-inch MacBook Pro models, which are both equipped with the most recent M3 CPUs, at Apple's recent announcement event. The 14-inch MacBook Pro, which replaces the 13-inch M1 MacBook Pro, has the standard M3 chip and, most significantly, does away with the Touch Bar. The M3 chips are a major internal improvement. The M3 Pro and M3 Max models now come with the Space Black option...

Apple Introduces New 3nm M3 Chip with Strong GPU

With a GPU that is 65% faster than the M1, Apple's new 3nm M3 chip supports hardware-accelerated mesh shading and ray tracing. With the recent release of its new 3nm M3 chip, Apple has significantly improved the GPU. The chip will be offered in the recently revealed 14- and 16-inch MacBook Pro notebooks, along with a less expensive one found in the 24-inch iMac. The GPU, which is intended to enhance performance for professional applications and...

Apple unveils the new 24-inch iMac powered by the M3

Apple announces new M3-powered 24-inch iMac with more memory and ray tracing. At its "Scary fast" event, Apple revealed the new M3 chip along with new MacBooks that run on it. The Cupertino, California-based tech behemoth also unveiled a new 24-inch iMac that features ray tracing and an M3 processor for increased memory. The new M3 chip makes the M3 iMac up to 2x quicker than the M1 iMac, up to 2.5x faster than the Intel-based...

Apple Journal: An iPhone app for keeping personal journals

The much awaited Apple Journal app for the iPhone is about to launch from Apple. After being first revealed during the WWDC 2023 keynote, the app eventually debuted in late October 2023 as a part of the iOS 17.2 beta. What is Journal Apple? With Apple Journal, a digital journal, you may record your ideas, observations, and experiences in addition to adding media and other features. With the help of the app, you may easily and...

Apple Could Release a New iPad Mini at a Scary Fast Event

At Apple's upcoming "Scary Fast" presentation, multiple new gadgets, including new Macs powered by the M3 chip, are scheduled to be unveiled. According to reports, Apple may also announce a new iPad mini at the event. On October 30th, Apple will hold a rare nocturnal event nicknamed "Scary fast" since it is likely to showcase new Macs powered by the zippy 3nm M3, M3 Pro, and M3 Max chipsets. While speculations claim that new iPads...

With a $125 million Wistron deal, Tata will become India’s first iPhone manufacturer

The Tata Group is set to manufacture Apple iPhones in India for domestic and global markets after acquiring Wistron's Indian operations. This groundbreaking development aligns with India's ambition to become a key player in the global electronics industry. Apple has been involved in iPhone assembly in India for almost five years, with Foxconn producing the first "Made in India" iPhone, the iPhone SE, in 2017. Pegatron and Wistron are two additional Indian businesses with which...

What is the price of the iPhone 15 Pro Max?

The price of the iPhone 15 Pro Max According to Jeff Pu, a technology expert at Haitong Securities, the iPhone 15 Pro Max will cost more than $ 1,099, which is more than its predecessor. It's unclear why Jeff Pu believes the price of the iPhone 15 Pro Max will rise. However, in addition to the screen and battery capacity, it may result from the addition of a periscope camera - a feature that iPhone users...