Shulou(Shulou.com)11/24 Report--

CTOnews.com, January 31 (Xinhua)-- Spotify reported fourth-quarter results on Tuesday, with a higher-than-expected number of active users and subscribers and predicting an audience of 500 million in the next quarter.

The number of monthly active users of Spotify rose to 489 million in the fourth quarter of 2022, exceeding the 477.9 million predicted by analysts at Spotify. In addition, the number of premium subscribers, who account for the bulk of Spotify's revenue, rose 14% to 205 million, compared with expectations of 202.3 million, according to Refinitiv's IBES data.

In addition to forecasting 500 million subscribers, Spotify expects 207 million premium subscribers and revenue of 3.1 billion euros (currently about 22.754 billion yuan) in the first quarter of 2023.

In addition, Spotify's revenue in the fourth quarter of 2022 was 3.2 billion euros (currently about 23.488 billion yuan), above analysts' estimates of 3.16 billion euros.

Last year, Spotify made a plan to have 1 billion users and annual revenue of $100 billion (currently about 675 billion yuan) by 2030. It also promises high profit returns from the expansion of podcasts and audiobooks. The company has invested more than $1 billion to build its podcast business, which currently has more than 4 million programs.

But CTOnews.com found that Spotify announced plans to cut 600 jobs last week because operating expenses were growing twice as fast as revenue.

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