While on its results conference in October, Spotify said it had 195 million Premium users and was working toward a target of 200 million subscribers by the end of the year. The company stated today that it had achieved this objective, with 205 million Premium customers worldwide. This data was included in the company’s financial performance report for the fourth quarter of 2022.
They announced 489 million active users, in addition to the 205 million Spotify Premium customers. The streaming service had a busy year overall, investing in new audio episodes and acquiring Kinzen. The company also announced that it has successfully launched its audiobook service in Australia, the United Kingdom, New Zealand, and Ireland. More importantly, the firm introduced Google Play Store charging capabilities towards the end of last year.
Today, Spotify announced our fourth quarter 2022 financial performance. Click here to review the full earnings release, and take a look at the highlights below
Google revealed its cooperation with Spotify at CES, with Connect being included into Android 13’s built-in media player. Whereas Apple Music and Amazon Music have increased its costs, Spotify has not yet done so; nevertheless, co-founder and CEO Daniel Ek did say last year that the firm would want to hike prices but first needed to consult with its label partners. All the positive press notwithstanding, Spotify is still losing money and recently laid off hundreds of staff, just like many other digital businesses.
In addition to this information, we are also waiting for word on the status of the company’s HiFi service, which was put on hold a year ago. There is, however, always hope that it may eventually be included as a Platinum tier option on the streaming service. For the time being, all we can do is wait and keep our fingers crossed.
