The company also reported a 15% rise in paying subscribers to 236 million.
Spotify said it expects to reach 618 million monthly active users and make an operating profit of €180 million during the first quarter of 2024.
At the end of 2023, the company had 602 million monthly active users , an increase of 23% compared to a year earlier. The company still saw an operating loss of €446 million in 2023, however, this was still an improvement over the operating loss of €659 million in 2022. In July, the Swedish company, which is listed on the New York stock exchange, announced it was raising its prices for premium subscribers “across a number of markets around the world,” following in the footsteps of similar moves by competing music services from Apple and Amazon.
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