Spotify: number of users increases - so do losses

(CercleFinance.com) - On Thursday the music streaming specialist reported that its number of active users has grown from 299 million in the second quarter of 2020 to 320 million in the third quarter (+7%).


The number of "Premium" users also increased by 27% in the space of a year, from 113 million to 144 million.

Quarterly sales amounted to 1.97 billion dollars, up 14% compared with the third quarter of 2019. At the same time, however, operating profit fell from 54 million dollars in Q3 2019 to a loss of 40 million dollars in Q3 2020.

For 2020, Spotify expects to have 340-345 million active users, including 150-154 million premium members. Annual revenue is expected to be 2-2.2 billion dollars.


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