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Spotify to start rolling out messaging feature for users

Spotify Technology will start rolling out a messaging feature to both free and premium subscription tiers as the music streaming giant seeks to attract more users and fend off competition.

Business • 26 Aug

Spotify flags price rises as it introduces new services

Spotify will raise prices as it invests in new features and targets 1 billion users, the Financial Times reported over the weekend, citing the music streaming provider's co-president and chief business officer Alex Norstrom.

Business • 25 Aug

CARDIFF, WALES - JULY 04: (EDITORS NOTE: EDITORIAL USE ONLY. IMAGES MAY ONLY BE USED IN RELATION TO THE EVENT. NO COMMERCIAL USE. NO USE IN PUBLICATIONS SOLELY DEDICATED TO THE ARTIST. NO USE AFTER JULY 03, 2026.) Oasis perform on stage during the opening

Live, Forever: Why bands are reuniting early and often

Reunion tours used to be confined to retired rockers looking to pad out their pensions, but the changing economics of the music industry has prompted groups to reunite at a much younger age, writes Adam Maguire.

Business • 03 Aug

Spotify forecasts profit below estimates on higher taxes

Spotify forecast third-quarter profit below Street estimates today as higher taxes related to employee salaries outweigh upbeat demand for its premium music-streaming plans.

Business • 29 Jul

Nearly 1,500 artists earned over $1m in royalties from Spotify last year

Spotify says it paid $10 billion in royalties in 2024

Spotify said today it paid $10 billion in royalties in 2024, the largest payout to the music industry in a single year.

Business • 12 Mar

Spotify said today it expects to add about 2 million premium subscribers, which would take the total to 265 million

Spotify forecasts profit above estimates on price rises

Spotify has today forecast first-quarter profit above market estimates as the Swedish audio-streaming giant benefits from steady user growth, price hikes and a cost-cutting drive.

Business • 04 Feb

Audiobooks were once largely marketed towards visually impaired and older customers - now they're mass-market

AudioHooked: Why the audiobook market is booming

Audiobooks are an old idea but a coming together of different factors has seen them go from a niche business to a booming one, writes Adam Maguire.

Business • 29 Jan

Tech companies warn over EU AI regulation

Tech companies and business leaders including Meta, Stripe's Patrick Collison, Spotify, SAP and Ericsson have issued an open letter warning that Europe is at risk of falling behind in the artificial intelligence (AI) era due to what they describe as fragmented regulations.

Business • 19 Sep 24

Spotify had aimed to reach 631 million monthly active users, but fell short of this target as it attracting 626 million MAUs for the quarter

Spotify slightly misses quarterly revenue prediction

Spotify has today posted a record quarterly profit slightly ahead of analyst expectations, pushing its shares up more than 14% in premarket trading.

Business • 23 Jul 24

US law allows streaming services like Spotify to obtain a blanket "compulsory license" to copyrighted music at a specific royalty rate.

Spotify sued over millions in allegedly unpaid royalties

Spotify has been hit with a lawsuit in New York federal court that accuses the streaming giant of underpaying songwriting royalties for tens of millions of songs.

Business • 17 May 24

Spotify shares, which initially fell on the quarter results, reversed course to rise 8% in premarket trading on Tuesday.

Spotify profits up, but lower marketing hits user growth

Spotify's quarterly gross profit topped 1 billion euros for the first time after it reined in marketing spending, although that meant the music streaming giant missed its forecast for monthly active users.

Business • 23 Apr 24

Apple has criticised today's EU decision and fine, saying it would challenge it in court

Apple hit with over €1.8 billion EU fine in Spotify case

Brussels has today fined Apple €1.84 billion, the iPhone maker's first ever EU antitrust penalty, for preventing Spotify and other music streaming services from informing users of payment options outside its App Store.

Business • 04 Mar 24

Spotify said the number of monthly active users rose by 23% to 602 million in the fourth quarter, beating its guidance and analysts' forecasts of 601.33 million

Spotify's monthly user growth, subscribers beat forecasts

Spotify has today reported fourth-quarter monthly active users and subscribers ahead of expectations as it grew in all regions, and said revenue and profitability trends looked favourable this year.

Business • 06 Feb 24

Spotify is to lay off around 1,500 employees, or 17% of its workforce

Spotify to cut 1,500 workers in third layoff this year

Music streaming giant Spotify said today that it will lay off around 1,500 employees, or 17% of its workforce, to bring down costs, after letting 600 of its staff go in January, and 200 more in June.

Business • 04 Dec 23

Spotify has today posted a third-quarter operating income of €32m - its first quarterly profit since 2021

Spotify posts Q3 profit, user growth beats expectations

Spotify today swung to a quarterly profit aided by price hikes in its streaming services and growth in subscribers in all regions, and forecast that its number of monthly listeners would reach 601 million in this quarter.

Business • 24 Oct 23

Quarterly revenues came in below estimates and the company also posted a bigger than expected loss

Spotify's user growth beats expectations

Streaming giant Spotify has reported second-quarter results that comfortably beat expectations for both monthly active users and subscribers, and forecast the number of listeners each month would reach 572 million this quarter.

Business • 25 Jul 23

Spotify said the number of monthly active users rose to 489 million in the fourth quarter

Spotify's user growth beats estimates

Spotify Technology has today reported fourth-quarter results that beat expectations for both active users and subscribers, and forecast the number of listeners would reach 500 million next quarter.

Business • 31 Jan 23

Spotify's move comes at a time when tech companies are facing a demand downturn after two years of pandemic-driven growth

Spotify to trim 6% of workforce, content head to leave

Music streaming firm Spotify Technology has said it plans to cut 6% of its workforce, or roughly 600 jobs, adding to a glut of layoffs in the technology sector as companies prepare for a possible recession.

Business • 23 Jan 23

Kinsen was founded by Mark Little and Áine Kerr

Spotify buys Dublin-based Kinzen

Audio-streaming service Spotify said today that it has bought Ireland-based Kinzen, a company that has helped it identify harmful content on the platform.

Business • 05 Oct 22

The company expects total monthly active users of 450 million in the third quarter.

Spotify reports 14% jump in paying subscribers

Spotify reported second-quarter revenue above analysts' estimates today, helped by a 14% jump in paying subscribers as more users listened to its podcasts, and the company forecast an upbeat current quarter.

Business • 27 Jul 22

The group represents another step in Spotify's efforts to deal with harmful content on its audio streaming service

Spotify forms council to deal with harmful content

Spotify has formed a Safety Advisory Council to provide third-party input on issues such as hate speech, disinformation, extremism and online abuse.

Business • 13 Jun 22

Apple Music, which was launched in 2015 and is the second-biggest music-streaming service after Spotify

Apple music, gaming to bring in over $8bn by 2025

Apple's revenue from gaming and music offerings is expected to jump 36% to $8.2 billion by 2025, JPMorgan said today, as the iPhone maker taps its huge user base to drive its subscription services.

Business • 13 Jun 22

Apple may face another EU competition charge in an investigation triggered by a complaint from Spotify

Apple faces extra EU competition charge in music probe

Apple faces an additional EU competition charge in the coming weeks in an investigation triggered by a complaint from Spotify, a person familiar with the matter said,

Business • 11 Apr 22

Spotify's total monthly active users rose 18% to a record 406 million, but forecast current quarter paid subscribers of 183 million, below expectations of 184 million

Spotify stock sinks on Q1 subscriber numbers

Spotify has forecast current quarter subscribers lower than Wall Street expectations, but executives sought to reassure investors that growth had not cratered even as it deals with the fallout from the controversy around The Joe Rogan Experience podcast.

Business • 03 Feb 22

Stripe is led by Irish brothers Patrick and John Collison

Stripe and Spotify team up on podcast payments

Stripe has done a deal with Spotify to make it easier for podcasters to accept payments and ensure revenue becomes recurring.

Business • 25 Jan 22