Spotify has reported its Q4 2023 performance, with a 23% increase in user base compared to the same quarter of the previous year, reaching a total of 602 million accounts. Among these users, 236 million are premium customers, representing a 15% growth.
The total revenue for the quarter has also seen a significant increase of 16%, amounting to 3.671 billion euros. This revenue is divided into subscription fees of 3.170 billion euros and advertising revenue of 501 million euros. However, there was a net loss of 75 million euros due to a one-time expense related to special programs. The operational cash flow has seen a boost of 397 million euros.
Spotify has also highlighted the success of its 9th annual Wrapped campaign, which surpassed the 225 million account mark. Moreover, the audio book service provided in the United States now offers more than 200,000 titles.
TLDR: Spotify’s Q4 2023 results show a 23% increase in user base and a 16% rise in total revenue. The Wrapped campaign and audio book service have been particularly successful.
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