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Spotify wins users and profits… and will still raise subscription prices in 2023

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Spotify is a company that has succeeded in changing the way we consume music online. From hacking to playing video clips on YouTube, the company logo Verde convinced millions of people that music can be listened to legally through a specialized application and advertising.

The service, founded in April 2006, has undergone significant changes over the years. Today, Spotify presumably outperformed growth forecasts, increase in monthly active users by 20% to 456 million. Which means higher income.

Despite this, the company’s CEO Daniel Ek said on Tuesday that subscribers can expect price increases for the service sometime in 2023. Service premium in Spain it costs 9.99 euros for a period of more than five years.

It is curious that he announced that you are not sitting well in the markets, since Spotify shares fell nearly 6% in over-the-counter trading on Tuesday, according to The Wall Street Journal.

VIDEO

This is the news that comes to Spotify Premium

More users, more benefits and the most expensive Premium

In her third trimester, Spotify records 456 million monthly active users20% more than in the previous year and above the company’s forecasts.

paid subscribers (Users who pay Premium), the most profitable type of Spotify customer, increased by 13% to 195 million.also exceeding company expectations with the green logo.

One reason for the growth could be that Spotify introduced audiobooks in the last quarter, the latest step in the company’s evolution from a pure music service to a more diversified audio business.


Now users can buy and listen to a catalog of more than 300,000 items independent authors and major publishers paying per download.

subscriptions, those that generate the most income increased by 22% to 2,650 million euros.. Income per advertising They increased by 19% to 385 million euros, which is fundamental as the majority of Spotify’s users use ad bidding.

Source: Computer Hoy

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