Spotify announced earlierSecond quarter financial results for fiscal year 2023, which shows that the number of new users in the last quarter reached 3600 million, an increase of 27% over the same period last year, and the number of monthly active users increased to 5.51 million, a record high.
Among all active users, there are 1000 million new paying users, which is also a record high, 300 million more than Spotify originally expected, and a 17% increase compared to the same period last year.
However, although revenue reached $35 billion last quarter, an increase of 11% over the same period last year, it still resulted in a loss of $1.24 million, which was related to expenses such as the closure of podcast program production and organizational restructuring.
In order to balance expenses, Spotify recently announced adjustments to Premium subscription prices in multiple countries and regions. Although the official estimates that the number of paid subscribers will be reduced by 400 million, based on the increased subscription price, it will not actually have much impact, and may even increase revenue due to the continued increase in the number of subscribers.
