Spotify has reached 236 million premium subscribers
After an outstanding year,Spotify has risen dramatically. Spotify, which is a Swedish streaming platform, It now boasts 236 million premium users, which is a 4 percent increase over the last quarter. The monthly active users of Spotify have risen to 602 million, which is 5 percent more than last year. The active number of spots has been great, but it is only rising with time. These reports were revealed by Spotify because of their deal with the famous US podcaster Joe Roge. Over the course of 2023, the fourth quarter earnings of Spotify, which cover the end of December, have marked a record-breaking year for the streaming company. The user base of Spotify has included 113 million regular users and 31 million new premium subscribers throughout 2023.
Trending charts on Spotify
These results for the year 2023 included both cost-cutting and price inflation in the price of one of the world’s largest audio streaming platforms. The year 2023 has not been that smooth sailing for Spotify. The streaming service has undergone multiple changes since December last year of december.Which inculcates various layoffs and price hikes in the premium subscription for the first time in a decade. In December 2023, the company announced it would be trimming 17% of its workers. Which will affect over 1,500 employees of the streaming giant.
Price increase in the Spotify
Soptify has its minimum subscription in the US and also in other markets around the world. The minimum subscription to Spotify now costs around $10.99 per month in the United States, after over a decade of being $9.99. Although Spotify has increased its price in multiple countries around the world, But it also gives the user an outstanding plan of free use of the Spotify Permuum for 2 months, and then the platform will cost you around €10.99 per month in the United Kingdom.
Loss of the Spotify in the perivous year
Despite all the drive and efficiency, Spotify has still suffered some great losses in the last year. Spotify has posted a loss of €70 million (around $75 million), down from a profit of €65 million ($70 million) in Q3. But this was an improvement over the €270 million loss (around $290 million) it posted in the same quarter the previous year. The total amount of loss that Spotify suffered for the whole year of 2023 was around €532 million (around $570 million). Despite these shifts,the average revenue per user was up and now sits at €4.60, versus €4.34 last quarter and €4.55 in the same quarter a year earlier. Advertising revenue on Spotify also rose to €501 million (around $538 million) in the quarter, which the Wall Street Journal notes is an all-time high for the streaming gain.
Tension between Spotify and Apple
The tension between Spotify and Apple has rapidly intensified as Spotify is currently declining to support Apple’s new Vision Pro headset at launch. Apple’s podcasting and audiobook ventures are still going strong. They’ve renewed their deal with Joe Rogan, the American podcaster.
PLEASE VISIT:
Supremium and more
Supremium – The streaming service is now allowing premium users to access 15 hours of audiobook content as part of their premium subscription after previously selling it exclusively as an on-demand extra.
Spotify has announced the feature, which at the time was branded “HiFi” three years ago in February 2021, but it’s still yet to announce an official launch date. As of last March, it was still coming “at some point,” and more recent reports suggest it may now be branded “Supremium,” but it’s not clear exactly when it might be available publicly.