Spotify became the first music streaming service to reach more than 200 million paying subscribers. According to the company’s report for the fourth quarter of 2022, their number increased by 14%. It is reported by NME.
Another 295 million people used the streaming service for free with ads. Premium subscription revenue grew 18% to €2.7 billion. Advertising revenue also increased by 14% (449 million euros). The company’s total profit amounted to 3.2 billion euros, an increase of 18%.
Also, Spotify recently launched the Playlist in a Bottle feature. It allows users to create a playlist that will only be available after one year.
Let’s remember that Shakira broke the record on Spotify among Latin American artists. Prior to this, the best result belonged to Bad Bunny. We talk about it in more detail here.