Tech

Spotify Releases Status Report For The Last Quarter of 2020

Online music platform Spotify shared its financial status report for the fourth quarter of 2020. According to the report shared by the company, Spotify has increased both the number of users and the revenue from users. Spotify now has 345 million monthly active users.

Continuing to be the most popular online music platform of recent years SpotifyAnnounced the financial situation report for the last quarter of 2020. In the statements made by the company, 25 million more active subscribers gained in the last quarter of last year, thus, Reached 345 million specified. Analysts’ forecast for the same quarter was 343 million. Also, Spotify now has 155 million premium subscribers. This number of subscribers increases the number of Spotify premium users over a one year period. 24 percent increase means he lives.

According to the statements made by Spotify, the revenues of the company have also increased. Accordingly, the company premium users 1 billion 887 million euros in the last quarter thanks to won. The revenue generated by the platform from podcast-supported advertisements was recorded as 281 million dollars. Thus, the net income of the company in the last quarter, 2 billion 168 million euros has happened. This amount reveals a 17 percent growth on an annual basis.

Users are interested in podcasts as well as music

Spotify

Although Spotify’s financial report for the last quarter of 2020 seems positive, not at the desired level. Because analysts had already announced the company’s predictions for 2021. However, these predictions remained high after the financial report announced today. In the statements made by Spotify, for the year 2021 9.01 billion euros, 9.41 billion euros It was stated that income in the range is expected. Analysts’ expectations were speaking in the range of 9.28 billion euros to 10.09 billion euros.

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Spotify also touched on the number of users in its predictions for 2021. Accordingly, the company in 2021 407 ila 427 milyon it thinks it will reach the total user in the range. Whether or not this goal will be achieved will begin to show itself in the coming months.

Source :
https://www.bloomberg.com/news/articles/2021-02-03/spotify-adds-more-customers-than-expected-in-fourth-quarter