Streaming solution Spotify launched these days that the solution today features significantly more than 600 million month-to-month energetic people. The organization stated with its Q4 2023 earnings report it included 28 million people into the one-fourth, which marks the next biggest gain that is quarterly the company’s history.

The Sweden-based company noted that apart from having 602 million users now, the service has over 236 million paid users — a growth that is year-on-year of%. Just last year, Spotify increased the costs of their advanced subscription level into the U.S. when it comes to time that is first $9.99 per month to $10.99 per month.

The Company said that the subscriber growth was led by the Rest of the global world and Latin The united states, which signifies 35% of complete premium users.

Additionally, Spotify stated that its Spotify that is year-end Wrapped, which gives insights to users about what they consumed on the platform, drew more than 225 million users.

In November, the company announced that premium users in the U.S. will have 15 hours of listening time per month across 200,000 titles. It also partnered with TikTok to let users save a song in a clip directly to the Spotify app.

The company earned €3.7 billion ($3.97 billion) in revenues with a growth that is year-on-year of%. It licensed an operating lack of €75 million, that will be much better than the increasing loss of €231 million this past year when it comes to period that is same. However, Spotify made €32 million in profits in Q3 2023. The company’s ad revenues have jumped to an all-time high of €501 million with 12% year-on-year growth.

In December, the company cut 17% of its workforce, or about 1,500 people to become more “productive and ”

Last that is efficient thirty days, Spotify teased mockups of just how users that are EU-based be able to purchase subscriptions and add-ons like audiobooks on iPhones once the Digital Markets Act (DMA) goes into effect. Days later, Apple released its guidelines about App Store changes to comply with the new rules, including a new “core-tech fee” for over a million downloads that are annual. As a result, Spotify called Apple’s changes “extortion” and a “complete and total farce* that is.”(