At the end of January 2023, Spotify decided to publish the final financial report for the last quarter of 2022. It turns out that it was great financially for the company, but the beginning of 2023 will be a bit risky for the firm.
Spotify in the fourth quarter of 2022 could boast of breaking the barrier of 200 million active, paid subscribers. Ultimately, the company recorded 205 million such subscribers, and it is the first streaming service to break this barrier. There are 489 million active users of the platform overall. In general, however, in the fourth quarter of 2022, Spotify recorded losses of 270 million of euro. This state of affairs results, among others, from the investments made in the area of podcasts, while the costs of maintaining the company and employing employees have also increased. To reduce costs, the company can be expected to lay off about 6% of its employees, which will translate into releasing about 600 people from Spotify.