The Swedish music platform Spotify lost 430 million euros in 2022, almost 13 times more than in 2021, despite becoming the first streaming service to exceed 200 million subscribers.
According to the results released this Tuesday, the platform earned 11.7 billion euros in 2022, 21.3% more than in 2021.
In the last quarter of the year, revenues grew 18%, to 3,200 million, but losses grew much more, from 39 million in the same period of 2021 to 270 million now.
The company attributed this deterioration to the increase in personnel expenses, since the number of workers increased, to greater investments in advertising and to changes in the exchange rate.
However, in terms of workers, a week ago Spotify, which employs 8,600 worldwide, announced that it will reduce its number by six percent.
Source: TSF
