Spotify, which strengthened its power with podcast broadcasts, announced the financial results of the third quarter of 2019. Thus, Spotify subscribers were updated with Spotify earnings .
The latest information on the number of Spotify subscribers appeared with the third quarter results of the year. With a total of 248 million listeners, the number of Premium members is 113 million. The total number of users has increased by 30 percent compared to last year. The increase in the number of premium subscribers is 31 percent.
When we look at the data on Spotify earnings, we see a 28 percent increase compared to the same period last year. With revenues of 1.73 billion euros, the company earns 1.56 billion euros from premium subscriptions. Advertising revenue is 170 million euros. Spotify, which boosts ad revenue, said it was still below expectations.
Last year, the company announced an operating loss of 6 million euros, this year announced that the operating profit of 54 million euros. Spotify also noted that its three-month net profit was 214 million euros. Last year, the profit was around 226 million euros.
It is said that developing countries play an important role in this rise of Spotify . Likewise, growth in Latin America plays an important role.
Podcasts are thought to be very effective in the growth of the company. podcast usage reached 14 percent. This means that around 35 million Spotify users listen to podcasts.
By the way, let’s underline that Spotify has broadcast more than 500,000 podcasts so far.
Spotify ‘s year-end forecasts became clear with these statements. The company wants to reach the number of users from 255 million to 270 million per month at the end of 2019. The target for premium subscribers is 120 million to 125 million.