Spotify Q1 Results: User Growth Slows, Streamer Swings to Profit
Spotify netted fewer new users than expected in Q1 2024, but the audio-streaming giant touted "record strength" in profitability.
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Spotify netted fewer new users than expected in Q1 2024, but the audio-streaming giant touted "record strength" in profitability.
Spotify's user growth slowed down during the quarter due to lower marketing activity. The company is also taking a range of measures to cut costs in a push for monetisation.
Spotify, which counts India among its top five markets in terms of the user base, however, didn't disclose specific information on its performance in the country for the quarter.
Spotify reported fourth-quarter 2024 earnings and subscriber growth as the music streamer provided business updates after a new Joe Rogan deal.
Spotify pulled in more than new listeners than it expected for the fourth quarter of 2023, as the streamer narrowed its net loss.