Spotify Reports 30 Percent Rise In Quarterly Revenue

Spotify Reports 30 Percent Rise In Quarterly Revenue
Spotify logo on phone

Spotify Technology on Wednesday reported a 30 percent rise in fourth-quarter revenue, as the music streaming company signed up more paid subscribers.

Monthly subscribers, which account for nearly 90 percent of its revenue, rose to 96 million at the end of December, up from 87 million in the prior quarter.

Revenue rose to 1.5 billion euros ($1.71 billion) from 1.15 billion euros a year earlier.

Separately, the company said it will acquire podcast companies Gimlet Media and Anchor, but did not disclose the financial details.

Spotify is a music streaming platform developed by Swedish company Spotify AB, headquartered in Stockholm, Sweden and listed on the New York Stock Exchange.

Launched on 7 October 2008, it is currently available in 79 countries and regions throughout the world.

 

The post Spotify Reports 30 Percent Rise In Quarterly Revenue appeared first on Concise News.

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