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Addictedtoedm / Maria Rosa Flatt

Spotify Post First Ever Quarterly Profit - EDMTunes

Spotify has been round since 2008. Many would imagine that in their 10-year historical past they’d have posted a revenue in some unspecified time in the future. But, for the primary time within the firm’s historical past, they’ve posted each a optimistic working and internet earnings. This got here due to a powerful final quarter of 2018. Total income for This fall reached $1.7 billion. This represented a 30% improve from the 12 months earlier than.

The quarterly revenue can largely be due to their paid subscribers reaching a large 96 million, up 36% from final 12 months. The firm gave credit score to their Google Home promotion and annual vacation campaigns for producing such optimistic outcomes. Their month-to-month energetic customers are as much as 209 million. And they’ve made an important effort to increase Spotify everywhere in the world. The app has expanded to 78 international locations, up from 65 within the earlier 12 months.

Spotify continues to launch new options for the app. Just a few months in the past they launched a brand new podcast characteristic. Of course, on the finish of the 12 months, every person can see which music and artists they listened to most over the course of the 12 months. Their latest characteristic permits customers to dam or mute particular artists.

You can try all of the numbers from Spotify’s huge This fall here!

Music Editor