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. Spotify joined the party earlier this year by cranking up its subscription fees, but oddly enough, it doesn't seem to be scaring us away.), Spotify Premium snagged a three percent increase in subscribers, reaching a solid 226 million on a quarterly basis. This boost comes even as Spotify dropped the bomb of price hikes across the US and various global markets.
When you compare these figures to the same time last year, it gets even more impressive. Spotify's subscriber count shot up by 16% year over year, and its monthly active users skyrocketed by 26% year over year. In the profit department, Spotify raked in around $69 million for the recent quarter, a stark contrast to the $177 million loss from the previous year. Operating income stood at around $34 million, quite the turnaround from the operating loss of about $243 million in the same quarter the year before.
Back in late July, Spotify threw its hat into the price increase ring, marking its first hike in the US in over a decade. The standard Spotify Premium subscription tagged on an extra buck, now sitting at $10.99. Other markets and subscription plans, like Duo, Family, and Student, also got a taste of the price adjustment.
Meanwhile, Spotify is keeping the momentum going by fine-tuning its podcast and audiobook offerings. The company recently launched audiobooks for its premium subscribers, which promptly stirred the pot.A discussion is a place, where people can voice their opinion, no matter if it is positive, neutral or negative. However, when posting, one must stay true to the topic, and not just share some random thoughts, which are not directly related to the matter.
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