Spotify announces the number of active members
Spotify, one of the most popular digital music platforms in the world, shared its financial status report for the fourth quarter of 2020. According to the report in question, the company increased both the number of users and the revenue it earned from users.
The popular digital music platform has announced its financial status report for the last quarter of 2020. In the statements made by the company; It was stated that in the last quarter of last year, 25 million more active subscribers were gained, thus the number of active users of Spotify reached 345 million.
The platform experienced the biggest increase in monthly active users with ads reaching 199 million with 30%. Accordingly, the number of premium subscribers, which was 144 million in the same period last year, rose to 155 million.
According to the shared report, Spotify; Thanks to premium users, it earned 1 billion 887 million euros in the last quarter. The revenue generated by the platform from podcast- supported advertisements was recorded as 281 million dollars.
Finally, the Swedish-based music streaming service Spotify; The number of both premium subscribers and active users increased in the latest earnings report. However, the Wall Street Journal reported that its average revenue per user declined. In this context, the company has a decrease of 8 percent compared to the same period last year. The reason for this is the low price policy applied in markets such as Russia and India.