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Despite its launch in India at the end of February, Spotify has already started to create an audience in the country. The company says that more than a million users have registered during the first week, a figure that has more than doubled over the next four weeks.
Unfortunately, despite the increase in these numbers, Spotify can not turn this success into profits, losing 142 million euros in the quarter. This figure is really disappointing if you compare it to the 442 million euros in profits made in December.
If there is reason to be optimistic, it is that the loss is better than that recorded at the same period in 2018, where it had lost 169 million euros (188 million euros). dollars). Unfortunately, Spotify attributed part of this loss to its employees (who, because of the rise in the share price, got bigger bonuses) and paid their fair share of tax.
Spotify does not expect to make crazy profits in the short term, but hopes to strengthen its grip on the global music market. Between its offers with Google, Samsung and Hulu, people will not be able to switch to offers to join the streaming service.
The company sees podcasting as a way of consolidating its future because, as we have already explained, podcasts are cheap and have a dedicated audience. In addition to buying Anchor and Gimlet, Spotify has already seen the revenue generated by its exclusive advertising-funded podcasts increase, and others are expected to grow.
It remains to be seen if Spotify's proxy war with Apple in Europe will result in anything, but these numbers make it harder for the company to pose as the little guy. After all, his American rival, better funded, has less than a quarter of the total number of users, regardless of the difficulties that complains Daniel Ek.
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