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MADRID, 27 Jul. (EUROPA PRESS) -
The streaming music and podcast production and distribution company Spotify closed the second quarter of the year with net losses of 125 million euros, which is equivalent to six times the 'red numbers' of the same period of 2021, as follows of the accounts that the company has published this Wednesday.
Revenues grew by 22.9%, to 2,864 million euros. At the same time, the costs associated with the income, derived largely from the royalties that Spotify has to pay to artists and labels, rose 29.5%, to 2,160 million euros.
Of the total billing, 2,504 million euros came from users with 'premium' accounts who pay a subscription to use the service, 22% more. The remaining 360 million euros come from advertising served to users who use the application for free, 31% more.
In that sense, Spotify has indicated that it closed the year with 433 million monthly active users, 19% more. Premium users grew 14% to 188 million, while users with free accounts grew 22% to 256 million.
In the whole of the first six months of 2022, Spotify recorded a net attributable profit of six million euros, double that in the first half of 2021. On its side, revenues increased to 5,525 million euros, 23, 4% more.
