Despite increasing prices, Spotify is still attracting more paid subscribers, with approximately 226 million reported in the third quarter of 2023, marking a 16% growth from the previous year.
Spotify keeps gaining an increasing number of paying subscribers.
Spotify reported a rise of 6 million subscribers from the third quarter of 2023 compared to the same period in the previous year. Additionally, the app saw an increase in active users from 551 million to 574 million, representing a 26% annual growth.
Spotify’s latest financial report disclosed a profit of around $69 million in the third quarter of 2023, likely attributed to the continuous introduction of new functionalities for the streaming platform.
The new “Supremium” plan has not been launched yet.
Spotify recently revealed more details about the new plan “Supremium,” offering users lossless audio streaming. The release date for this feature to the general public remains unknown.
Transmission of lossless songs through Spotify’s “Supremium” plan is rumored to be launched by the end of 2022, but uncertainty remains following comments made by Spotify’s CEO, Daniel Ek.
