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Spotify achieves incredible goal, but continues to melt money!

With the end of another quarter, many companies and manufacturers have revealed the numbers achieved during the past 3 months and Spotify was one of them. According to the latest report, the music streaming service continues to show impressive growth, adding 72 million active users over the past 12 months.

Regarding the number of subscribers, the company also managed to present impressive numbers, exceeding the 144 million mark. Having registered 113 million active subscriptions last year, it managed to guarantee a 27% YoY growth.

Growth of users on Spotify continues to translate into losses

Contrary to what one might think, this constant growth in the number of active users (and subscribers) on Spotify, does not mean that the company manages to achieve large numbers in terms of the profit achieved.

Despite having reported revenues of almost 2 billion euros during the last quarter, Spotify again confirmed an operating loss of 101 million euros.

This information ends up leaving us a little confused, since with recipes of this size, it shouldn’t be too complicated to achieve positive numbers. Despite the large growth in the number of users, Spotify also revealed that “revenue per user” fell by 10%, which may justify the loss at the end of the quarter.

Spotify

Spotify remains undisputed leader

It is true that over recent times we have seen Spotify welcome many rivals. However, although some of them have a very interesting library and even a more desirable price, they end up failing to convince their friends to change services.

The Amazon Music platform currently has 55 million users and Apple Music had 60 million subscribers in June last year. Unfortunately, Apple has since decided to stop sharing its service numbers.

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