During its earnings call in October, Spotify announced 195 million Premium subscribers and that it was pursuing a goal to hit 200 million subscribers by year’s end. Today, the firm announced that it was able to meet that goal and actually surpass the lofty number with 205 million Premium subscribers. This information was shared in its fourth quarter 2022 financial performance report, along with other financial data for the company.
In addition to its 205 million Spotify Premium subscribers, the company also shared that it now has 489 million active users. For the most part, it was a busy year for the streaming service, with investments in new podcast shows and its acquisition of Kinzen. The firm also shared that it was able to expand its audiobooks service to Australia, the UK, New Zealand, and Ireland. Furthermore, the company late last year rolled out support for billing through the Google Play Store.
During CES, Google announced its partnership with Spotify, integrating Connect into the default Android 13 media player. While competitors like Apple Music and Amazon Music have raised its prices, Spotify has yet to do so, although co-founder and CEO Daniel Ek did share last year that it would like to, but the company would have to discuss the price increase with label partners. Despite all of the good news, Spotify still continues to operate in the red, and like many other companies in the tech space had to recently lay off hundreds of its employees.
On top of all of this news, we still have yet to hear an update for the company’s HiFi service that was indefinitely delayed a year ago. But, there’s always the possibility that it could arrive as the streaming service’s Platinum tier one day. Until then, we’ll just have to wait it out and just hope.
Source: Spotify
