Spotify reports first annual profit as premium subscriber numbers surge
Annual revenue jumped 16 per cent to €4.2bn as the company increased paying subscribers by 11 per cent to 263mn. Record growth in premium customers helped increase revenue per user by 5 per cent to €4.85 from the previous year, as Spotify also benefited from increasing prices.
Spotify, Music Publishers
Revenue has surged following increases to Spotify’s Premium pricing, and subscriber numbers are up too.
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