Spotify increases subscribers but widens net loss in 2019

“On the cost side, we have been consistent in our messaging.”

FILE PHOTO: The Spotify logo is displayed on a screen on the floor of the New York Stock Exchange in New York, U.S., May 3, 2018. REUTERS/Brendan McDermid/File Photo

At the end of 2019 Spotify’s number of monthly active users had grown to 271 million, a 31 percent increase from a year earlier.Spotify also said it had seen exponential growth when it came to podcasts and the hours streamed had increased by around 200 percent year-on-year. “On the cost side, we have been consistent in our messaging. Any decision to accelerate our investment in podcast and technology spend should be viewed as an indication of our belief that our strategy is having tangible results,” the company said in a statement.

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