During 2022 Spotify achieved what no other music streaming platform has been able to: will exceed 200 million subscribers.

In particular, on December 31, 2022, the platform closed the year with 205 million paid subscriptions, something that marks the rise of his rank 14% from the previous year.

However, in addition to premium subscribers, Spotify has also seen a significant increase in subscribers. free users, since last year 295 million users accordingly they used Spotify in its free version with ads.

However, to see the financial impact of this increase, this means premium subscription revenue increased by 18%, that is, they touched in total 2.7 billion euros, while the growth in revenue from free users was about14% corresponds to total income 449 million euros.

To understand the extent of this success, it is enough to mention that Apple Music has respectively 60 million subscribers and to Amazonian music registered 55 million subscribers, according to the latest measurements of companies.

Of course, despite the great success of Spotify, at the same time, The company announced that it will cut its workforce by 6% in the coming months, lay off about 600 workers, including SSO Don Ostroff.

In fact, the CEO of the company Daniel Ek he said: “I was very optimistic about investments before the earnings growth. And in order to keep costs under control, we made the difficult but necessary decision to reduce the number of employees.”

With information from MusicTech and NME.