Nepal online patrika , kathmandu | The active users of the streaming platform Spotify have exceeded 60 crores. In the last three months, Spotify has seen an increase of 280 million active users, reaching a record high of 600 million active users, as stated by GSMR.
Alongside the increase in users, the company has also witnessed growth in its revenue. In 2023, the company collected revenue of 3.7 billion euros, marking a 16% increase compared to the previous year of 2022. However, the company’s operational income remains at a loss of 75 million euros. Yet, the company’s advertising revenue has reached a record high of 501 million euros.
Out of the 602 million active users, 236 million are premium subscribers. The company’s free service does not include features such as offline listening and downloading music, unlike the premium service. In 2022, the number of paying users was 205 million, showing a 15% increase within a year.
Financial details indicate that Spotify continues to experience growth in all sectors and remains outstanding for Latin American companies.
According to internal data, 225 million users have utilized Spotify Wrapped, a campaign that provides a personalized summary of the user’s listening habits at the end of the year. Customers who pay for all services in America now have access to up to 2 million audio books per month, allowing them to choose from a variety of options.