Monday , November 23 2020

Spotify with one billion profits – and now the music giant will make their own podcasts

Spotify had a profit of almost $ 1 billion. Kr.

Photo: Andreas Elgstran

Spotify for the first time ever showed a positive operating profit.

Most of the time passed when Spotify presented the year's last quarterly report. And in this connection, the music giant invited an acquiring news.

In the report, the company was able to show an operating result for the first time in history. Plus 94 million EUR equivalent to almost EUR 1 billion Kr.

In the same period last year, the company lost a loss of DKK 86 million. EUR, a loss that fell to 6 million. In Q3 – but now exchanged for profits.

The free cash flow increased by 12 percent up to DKK 84 million. EUR equivalent to DKK 873 million

One contributing factor to the success is that the important premium users increased by 25 million during the period – from 71 million to 96 million.

The total number of monthly subscribers has increased by almost 30 per cent. In one year – from 160 million. To 207 million.

In connection with the quarterly report, Spotify issued a press release stating that there are ongoing far-reaching negotiations on the purchase of the podcast platform Anchor and the podcast producer Gimlet Media.

Gimlet Media is an American pod radio network that was formed in 2014. If the purchase goes through, it gives Spotify the opportunity to produce its own podcast content.

published 2019-02-06 14.50

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