Last Wednesday, the Swedish platform announced the results for the third quarter of the current year. Spotify now count 172 million subscribers paid, an increase of 19% in one year, with a net profit of 2 million euros.
The world number one in music streaming has made its sixth net profit since its IPO in 2018. At the end of September, the platform reached 381 million active users, an increase of 19% over one year. Among them, 172 million people go through the paid plan to take advantage of all the features offered by Spotify, while the other 209 million are satisfied with the free offer financed by advertising.
The results reported by Spotify show that revenue reached 2.5 billion euros in the third quarter of 2021, up 26% thanks to premium revenue and advertising. Quarterly gross margin stood at 26.7% and net income reached 2 million euros, after a loss of 101 million euros a year earlier.
” We had another quarter of strong advertising growth and user engagement metrics in many markets showed encouraging signs of growth “, welcomed the Swedish firm. Note that Spotify wants to reach 400 million users at the end of the current year.
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