Spotify exceeded 600 million users during 2023

The streaming platform Spotifythe global leader in online music, announced on Tuesday that it has surpassed 600 million monthly users in 2023 and expects a profitable first quarter.

“Spotify had a very good quarter, capping a year of notable growth for the entire company,” wrote its CEO, Daniel Ek, on the social network X.

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In 2023, the Swedish group had 602 million active monthly users, an increase of 23% year-on-year, according to its annual report.

Spotify also increased the number of paying subscribers, which account for the majority of its revenue, by 15%, to 236 million subscribers.

In 2023, the Swedish company increased its turnover by 13%, to 13.2 billion euros ($14.1 billion), compared to 11.7 billion euros ($12.5 billion) the previous year.

Despite this, since its creation 18 years ago, the platform has never made a net profit in a whole year and only occasionally makes a quarterly profit, despite its success in the online music market.

Source: Elcomercio

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