Spotify's so-called premium users

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the period between January and March of this year, the Swedish company clearly benefited from the staff cuts announced at the end of 2023 and also from the price increases for its paid subscription. However, despite the increase in the prices of its tariffs, the music streaming platform continued to boost its number of paying subscribers during the first quarter of 2024.

jumped 14% year-on-year to 239 million between January and March of this year. The company also ended the first quarter of the year with 615 million monthly active users at its side, almost 20% more than at the end of March 2023.

Spotify faces the second quarter of the year with optimism
Looking ahead to the second quarter of the year, Spotify CEO Daniel Ek is confident that the benin whatsapp list music streaming platform will continue to attract more paying users. Ek expects to end the second quarter of 2024 with an operating profit of approximately €250 million. If the company meets this target, it would be 40% better than the figures initially considered by analysts.

Overall, the 1,500 job cuts the company announced in December 2023, as well as the reduction in marketing budgets , have had a positive impact on Spotify's latest quarterly results.

During the first quarter of 2024, the Swedish company generated an operating profit of 168 million euros , compared to losses of 156 million euros in the same period of the previous year.

On the other hand, Spotify , which was still in the red in the last quarter of 2023, earned a net profit of 197 million euros during the first three months of the year , far from the net losses of 225 million euros it suffered in the first quarter of last year.