Spotify sees 31 million new subscribers sign up in 2023 despite increasing the price of its monthly subscription
- Company had 235 million paying customers compared with 205 million in 2022
Another 31 million paying customers signed up to Spotify last year amid the growing popularity of podcasts.
In an update to the stock market, the world's biggest music streaming firm said 236 million people were forking out for a subscription in the final three months of 2023 – up from 205 million in the same period of 2022.
It came despite the Stockholm-based firm last year hiking the price of a monthly subscription from £9.99 to £10.99.
Founded in 2006 and traditionally relying on music as its lifeblood, Spotify has been making a big push into podcasting.
The company has invested billions on deals with the likes of the Obamas and the Sussexes in recent years, and this week signed a multi-year agreement with outspoken host Joe Rogan worth a reported £200million.
![Another 31 million paying customers signed up to Spotify last year amid the growing popularity of podcasts (Stock Photo)](https://i.dailymail.co.uk/1s/2024/02/06/23/80940565-13053931-image-m-35_1707262999582.jpg)
Another 31 million paying customers signed up to Spotify last year amid the growing popularity of podcasts (Stock Photo)
![In an update to the stock market , the world's biggest music streaming firm said 236 million people were forking out for a subscription in the final three months of 2023 ¿ up from 205 million in the same period of 2022 (Stock Photo)](https://i.dailymail.co.uk/1s/2024/02/06/23/80940559-13053931-image-a-36_1707263015443.jpg)
In an update to the stock market , the world's biggest music streaming firm said 236 million people were forking out for a subscription in the final three months of 2023 – up from 205 million in the same period of 2022 (Stock Photo)
![The company has invested billions on deals with the likes of the Obamas and the Sussexes in recent years, and this week signed a multi-year agreement with outspoken host Joe Rogan worth a reported £200million (Stock Photo)](https://i.dailymail.co.uk/1s/2024/02/06/23/80940561-13053931-image-a-37_1707263019620.jpg)
The company has invested billions on deals with the likes of the Obamas and the Sussexes in recent years, and this week signed a multi-year agreement with outspoken host Joe Rogan worth a reported £200million (Stock Photo)
There has also been an increased interest in true-crime series, including the Daily Mail's hugely popular podcast The Trial, which has covered cases including baby serial killer Lucy Letby.
Spotify had revenues of £3.1billion for the final three months of 2023 – up 16 per cent on 2022 – but still posted a £64million loss during the period despite axing 1,500 jobs in December.