Audio service Spotify has published financial statements for the past year. According to the published data, the company’s revenue grew by 17% and reached € 2.1 billion. Profit also exceeded expectations and amounted to € 74 million.
Paid subscribers grew 24% to 155 million. The report claims that most of the growth occurred in Europe and the United States. These regions brought the service about € 1.8 billion, which is 15% more than a year earlier. It also notes that the company continues to benefit from the launch of services in Russia and neighboring countries.
The total audience of the service increased by 27%, reaching 345 million people. In the fourth quarter alone, Spotify added 25 million active users from the US, India and Europe.
Advertising revenue grew 29%. This has been achieved thanks to a 50 percent increase in the number of advertisers looking to advertise their products on various podcasts. At the time of this writing, podcasts in Russia remain unavailable.
Spotify previously filed a patent to match music to the user’s mood. It is assumed that the service will analyze the pitch, timbre and rhythm of the user’s voice, after which it will offer him the appropriate music.
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