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Spotify: unexpected earnings in the third quarter of 2023

Spotify announced he had obtained significant profits in the third quarter of 2023, a result that cannot be taken for granted for the company, which has always favored long-term growth. The profit was possible thanks to the increase in the number of subscribers to the Premium plan and the increase in prices in various markets (including Italy).

Spotify: +3% of Premium subscribers in the third quarter of 2023

In the quarter ended September 30, Spotify reported growth of 3% of its Premium subscriberswhich I am now 226 million (via The Verge). This is a figure slightly higher than the company’s forecasts. Monthly active users (MAU) also increased to 574 millionwith a growth of 4% compared to the previous quarter (and 26% compared to the same period last year). Spotify said this was the second largest net MAU growth in its history for the third quarter.

The result was also possible thanks to the price increases that the streaming giant introduced in various markets at the end of July. For the first time since he arrived in Italy, Spotify has increased the cost of the standard Premium subscription from €9.99 to €10.99. Other subscription plans, such as Duo, Family and Student, have also seen increases in various countries.

The result is more than positive: the third quarter 2023 report reports a profit of 65 million euros. IThe third quarter of 2022, however, ended with a loss of 166 million.

E Spotify SuperPremium con audio lossless?

In the meantime, far from official communications, Speculation continues regarding the launch of a plan that includes the lossless service (with ultra high definition audio). Lossless audio means the ability to listen to songs in 24-bit, without data loss. In essence it is superior audio quality, already introduced for years on Apple Music, Amazon Music, Tidal and similar platforms. On Apple Music, for example, which does not have free plans, lossless audio is included in the standard subscription at no additional cost.

Spotify began to theorize the launch of the lossless mode (called Spotify HiFi) in 2021, without this ever actually arriving. According to some rumors, the functionality could arrive with the launch of the subscription Spotify Superpremiumat the exorbitant price of €19.99 per month.

Walker Ronnie is a tech writer who keeps you informed on the latest developments in the world of technology. With a keen interest in all things tech-related, Walker shares insights and updates on new gadgets, innovative advancements, and digital trends. Stay connected with Walker to stay ahead in the ever-evolving world of technology.