Even for Spotify, things went well in this pandemic period. The latest quarterly report, released just a few hours ago, indicates that total monthly active users have risen to 299 million, and that there are 138 million paid subscriptions; but apparently the situation is already normalizing to pre-coronavirus levels. Statistics from the Swedish company reveal, for example, that car listening times have started to rise again, and now they are only 10% less than they were before the start of the pandemic.
He seems to have paid off the massive investment in podcasts, too – a bet that culminated a few weeks ago with the announcement of an exclusivity agreement with the Joe Rogan Experience, one of the most famous and listened to podcasts in the world. apparently as many as 21% of platform users listen to podcasts, and annual growth rates continue to be three-digit. The trend is expected to remain unchanged at least until the end of 2020.
In all this, turnover increases, but expenses increase more, and so overall the company's accounts are even more red than before – we are talking about 356 million euros. Competing factors are many, says the official note, but mainly the blame is attributed to the taxes paid for employees in Sweden. At the same time, the use of shared family plans is increasingly frequent, which leads to a reduction in revenues per user. The deal with Joe Rogan will also likely weigh, but that will hopefully pay off on its own in the long run. The exclusive will start in September.