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Spotify paid users hit 236M, but losing money, amid Apple battle
Spotify reported a mix of good news and bad in its latest quarterly earnings report. The good news was that...
The bad news was that the company, which managed a rare quarterly profit in Q3, returned to being a loss-making business in Q4 … Much of those “one time charges” relate to the costs of the three rounds of layoffs the company made last year, in its attempts to stem its losses. Spotify last month shared a preview of what it hoped would be the ability to offer in-app premium subscriptions – which would likely boost conversion, compared to the current experience of the app being unable to even tell you how to subscribe.
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