Spotify: losses disappoint, but not users

(CercleFinance.com) - On Tuesday Spotify announced an increased loss in Q4, although a continued growth in its user numbers resulted in its share price jumping 10% in pre-market trading.


The world leader in streaming music this morning reported an operating loss of 231 million euros for Q4, well above a token loss of just seven million euros a year ago.

However, Q4 revenue rose 18% to 3.17 billion euros on the back of a similar increase in the number of paying monthly subscribers, which reached 205 million at the end of the quarter.

The number of paying subscribers - which generate 85% of the group's revenues - is expected to increase further in Q1 2023, with the Swedish group setting a target of 207 million members.


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