Spotify has over 200 Million active members, and 96 Million of them pay for that membership.
Yet for the first time in over 13 years, Spotify is finally making a profit.
For the first time in company history, Operating Income, Net Income, and Free Cash Flow were all positive,” reads a portion of Spotify’s financial announcement this morning. The company made an operating profit of €94 million.
Those 96 million paid subscribers add up to nearly double Apple Music’s 50 million subscribers, and Spotify announced it had 207 million monthly active users in total this past quarter. Those 96 million paid subscribers add up to nearly double Apple Music’s 50 million subscribers, and Spotify announced it had 207 million monthly active users in total this past quarter. Apple Music doesn’t offer a free service.
All that said, the company thinks that profit won’t last. The company is forecasting a loss of €50 to €100 million next quarter and €200 to €360 million over the full year.
