The number of people paying for Spotify Premium rose in the same quarter the streaming service announced price increases across the US and several other global markets.
The number of people paying for Spotify Premium rose three percent to 226 million on a quarterly basis as the streaming service announced price increases across the US and several other global markets. Spotify’s monthly active users also rose to 574 million as of September 30th, a four percent increase from last quarter. Both rises were slightly above Spotify’s forecast. Comparing performance year over year, Premium subscribers were up 16 percent while MAUs were up 26 percent.
Overall, Spotify reported a profit of €65 million for the recent quarter, versus a €166 million loss the year previous. Operating income was €32 million , versus an operating loss of €228 million in the same quarter the previous year. Spotify has frequently posted quarterly losses as it’s traditionally prioritized growth over quarterly profits. Spotify’s latest earnings report once again contains no information on when its long-promised lossless streaming option could launch.
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