Streaming services are becoming more and more popular. One of the most popular companies providing this type of service is Spotify. Despite a large base of customers using the premium subscription, company noted losses for a very long time. This was not a cause for concern for potential investors who wanted to take over Spotify, but the current owners were aware how big company they managed to build. In their opinion, earning money thanks to Spotify is only a matter of time, and it seems that we have just received confirmation of their opinion. Spotify made a profit for the first time in its history.
Company officially announced that it achieved a profit of 94 million euro for the last quarter of 2018. Despite the growing number of users, Spotify's forecasts for the nearest future are not promising, which is why the firm plans to invest a substantial amount of funds into podcast market. According to Spotify owners, this market has a great future, and Spotify is going to contribute to the growth of podcast's popularity.