The Spotify announced on Wednesday (6) its financial results for the fourth quarter 2018 the company (between October and December), which show healthy growth in the amount of the streaming platform subscribers.
According to the report, the company closed the period with revenues of € 1.5 billion (about R $ 6.32 billion), which represented a 30% increase from the previous period. The company’s profit increased 42%, from € 282 million (about R $ 1.1 billion) to € 399 million (about R $ 1.6 billion).
This growth was mainly driven by the increase in the number of premium users (who pay a monthly fee) for the platform, which grew by 36% since the last quarter of 2017, reaching 96 million paying users. These users contribute 89% of all revenue generated by the app, while the other 11% comes from linking ads to free users.
According to the data revealed, Spotify currently has 207 million monthly users (people who use the app at least once a month), with 36% of these users located in European countries, 30% in North America and 22% in Latin America. Among Premium subscribers, Europe’s share is even higher, and 40% of the app’s paying users are on the continent.
The company also took the opportunity to reveal some expansion plans, especially in the area of podcasts. In 2018, Spotify has already acquired two major podcast platforms – Gimlet and Anchor – and is already the second largest platform in the world in this type of media, behind only Apple. The company believes that within the next few years, 20% of everything that will be heard on Spotify will be non-musical content, so it’s focused on increasing your investments in the podcast area.