Spotify in the last few hours published reports about its financial situation in the past quarter. Current situation in the company should please all customers, because Spotify seems to be going in the right direction. Finally there appeared a chance that in the coming months company will start earning money.
At the moment Spotify has in its database 191 million users who are active. By active we mean that they used the application at least once in the third quarter. Almost half of these clients, so many as 87 million subscribers use premium version of the account. This number increased by 4 million customers compared to the last published report. This means maintaining an advantage over Spotify's main competitor, Apple Music, which has reached 43.5 million subscriptions. Most importantly, the company managed to minimize its losses significantly. A year ago in the third quarter Spotify achieved a loss of 73 million of euro, and this year in the same quarter the loss was just 6 million of euro. This is a significant improvement that may cause interest of many potential investors who could have plans connected with buying out the streaming platform.