Spotify music has become one of the best known companies in the world since its founding in 2006 and by all indications it should continue to grow over time. At least, that’s what the brand’s financial and performance report for the fourth quarter of 2022 shows. Spotify has increased not only the number of monthly users, but also the number of premium subscribers..

According to the document, the number of monthly active users of Spotify increased by 20% compared to the previous year, reaching 489 million. Already The number of premium subscribers of the platform reached 205 million, representing 14% more to the report than in the past. so, Spotify becomes first music stream to surpass 200 million subscribers.

Daniel Ek, founder and CEO of Spotify, also shared the results of the platform. He said in a tweet: “Despite a challenging year, we have completed 2022 strongly. Expect us to move faster, harder and with more effort in 2023, delivering even greater efficiency.”

Results after layoffs

Considering that Spotify aims to end 2022 with 479 million monthly active users and 202 million premium subscribers in the third quarter, the figures announced by the company came better than expected.

It’s also important to note that the report was released shortly after Spotify announced that it would need to make staff cuts to its operations. according to website Boundaryaround 600 workers were laid off, corresponding to a 6% reduction in the brand’s staff.

The company’s Q4 document also highlights Spotify’s recent innovations and successful initiatives, such as the acquisition of Kinzen (a malicious content detection initiative), the expansion of audiobooks to new regions, and the Wrapped tool that has once again mobilized streaming users.

Source: Tec Mundo

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