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Spotify's monthly user growth, subscribers beat expectations

Reuters · 1y

Music streaming platform Spotify reported strong fourth-quarter performance, with monthly active users and premium subscribers surpassing expectations. The company’s user base increased by 23% to 602 million, while premium subscribers grew by 15% to 236 million. Spotify aims to reach 1 billion users by 2030 and has expanded into podcasts and audiobooks. Despite positive trends, Spotify's first-quarter forecast for total users and revenue came in below Wall Street expectations. The company posted a fourth-quarter operating loss of €75 million, reduced from €231 million in the same period the previous year.