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Spotify reports its first full year of profitability, adds 35M monthly active users
On Tuesday morning, Spotify announced its fourth-quarter earnings, marking its first full year of profitability since its inception 17 years ago. The On Tuesday morning, Spotify announced its fourth-quarter earnings, marking its first full year of profitability since its inception 17 years ago.
Additionally, the company experienced growth in its paid subscriber base despite implementing two consecutive price hikes for Premium subscriptions. Last quarter, Spotify teased the future arrival of its HiFi or “super premium” subscription offering, enabling the company to increase prices even further. The company’s profitability milestone comes on the heels of Spotify signing a new multi-year distribution agreement with Universal Music Group.
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