Spotify announced their financial statements for Q4 2023. The world's number one music streaming and podcast platform currently has 602 million monthly users with 236 million being Premium subscribers. The company generated revenue of €3.67 billion which is an increase of 16% compared to the same like last year.
Although the number of monthly and Premium users continues to increase, Spotify still recorded a loss of €70 million (~RM358 million). This is still better than the €270 million loss recorded in the same quarter last year. It's amazing that the world's number one music streaming platform has yet to post any annual profit since it started operations in 2006.
Spotify's financial statements were released a week after Joe Rogan continued his deal with Spotify for his podcast but no longer exclusively.
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APPS & GAMES