Spotify Announces ‘Paid Subscribers’

One of the most popular online music and podcast platforms in the world. Spotifyshared its financial situation report for the third quarter of 2022. Although the statements made by the company show that there is growth in the platform, the result did not please the investors. Because in parallel with the explanations in Spotify shares There was a 6% decrease. Let’s take a look at the numbers Spotify shared together.

According to the statements made by Spotify, the number of premium subscribers increased in the last quarter. It has reached 195 million. Thus, we see that Spotify has gained 7 million new subscribers in the last 3 months. In addition, the company estimates that it will reach 200 million subscribers in the last quarter. The total number of users of the platform with the latest figures 456 million level has been reached. However, when we look at the profitability of the company, we see that the results are not very positive.

Spotify’s profit margin is falling!

In the last quarterly financial report of the platform, we see a decrease in the profit margin. Gross margin recorded as 26.7 percent last year, this year 24.7 percent declared as. According to the company, the reason for the decrease in the profit margin is the amount paid to musicians. Copyright due to increased wages.

Spotify cares about podcasts as much as music. In the last three months 300 thousand Announcing that the new podcast broadcast has started to take place on the platform, the authorities announced that the number of instant podcasts has reached 4.7 million. Moreover, according to the company, podcasts are also very important for revenues. Spotify’s growth on the podcast front over 10 percent said that…