How Spotify stayed No. 1 in streaming audio even with Apple, YouTube and Amazon aiming for it

guest · Nov 11, 2022

By Barbara Collins @barbaracoll_ - November 10, 2022

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Spotify remains the No. 1 streaming audio service with a sizable lead over Apple, Amazon and YouTube Music in reported paid subscribers.

It has branched out into audiobooks and podcasts and now has nearly 200 million paying customers.

Controversies have trailed Daniel Ek’s company at every turn, from Taylor Swift pulling her catalog in 2014 to Neil Young’s departure over Joe Rogan this year, but the biggest issue is still profitability.

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Spotify, once a Swedish startup tasked with tackling music piracy issues, is now the most popular audio streaming subscription service in the world.

First launched in 2008, the platform began as a way to allow listeners to stream their favorite songs while still compensating artists for their work – a major issue caused by file-sharing services at the time, like Napster and LimeWire, which severely affected music sales as the services had no legal rights to the music.
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Today, Spotify has more than 80 million tracks available to users to stream. In its most recent earnings report, the company touted its 456 million active users with 195 million paid subscribers across 183 markets.
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Spotify’s success quickly caught the eye of major technology competitors, who have since released their own streaming music platforms such as Apple Music, YouTube Music and Amazon Music. But even with competition and uneven stock market performance, Spotify has stayed at the top of the charts, as the No. 1 audio streaming service and has kept pace on subscription prices.

Its $9.99 monthly premium plan has remained unchanged since it launched in the U.S. in 2011, and it is still as low as any competitor.
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guest · Jan 31, 2023

Spotify shares pop after earnings show strong user growth
By Ashley Capoot @ashleycapoot - January 31, 2023

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Spotify shares popped Tuesday after its fourth-quarter earnings beat analysts’ expectations for revenue and showed strong user growth.

Spotify reported 489 million monthly active users for the quarter, up 20% year over year.

The company also reported 205 million paid subscribers, up 14% from a year ago.

Earlier this month, Spotify announced plans to cut 6% of its global workforce as it contends with a gloomy economic environment.

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Spotify shares popped as much as 9% early Tuesday after the company reported fourth-quarter earnings that beat analysts’ expectations for revenue and showed strong user growth.
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Spotify reported 489 million monthly active users for the quarter, up 20% year over year. There were 33 million net additions to monthly active users during the quarter, marking a record high for the company. Spotify also reported 205 million paid subscribers, up 14% from a year ago.

Spotify is continuing to invest in advertising, and its ad-supported revenue grew 14% year over year and accounted for 14% of total revenue. The company said growth was driven by podcasting.
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How Spotify stayed No. 1 in streaming audio even with Apple, YouTube and Amazon aiming for it

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How Spotify stayed No. 1 in streaming audio even with Apple, YouTube and Amazon aiming for it

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