Spotify the streaming music application had a turnover of 16% in the last year with a cut to March 2021.
The Swedish platform Spotify, number one in the world of music streaming, announced on Wednesday a net profit in the first quarter of 2021 and an increase of 21% in its subscribers, which are already 158 million.
In the first quarter, Spotify posted a small net profit of 23 million euros, against a loss of 145 million a year earlier, the platform said in its quarterly report.
Revenue grew 16% in one year, to 2.15 billion euros (the US $ 2.597 million), he added.
At the end of March, the number of users reached a total of 356 million, with a 21% increase in the number of paying subscribers in one year, to 158 million.
In February, Spotify announced its launch in more than 80 new countries, which have about 1 billion inhabitants, including highly populated states such as Nigeria, Pakistan, and Bangladesh.
These launches confirm its presence in the vast majority of countries in the world (about 170).
Since its listing in 2018, it’s only the fifth positive quarter for Spotify, which never made a net profit for a full year despite its success in the online music market.