Spotify’s latest income suggests that the customer numbers of the audio broadcast service did not see much, if any, the impact of the controversy surrounding the Joe Rogan podcast a few months ago.
In the first three months of March 31, Spotify reported that its valued subscribers increased 15 percent year-on-year to 182 million, up from 180 million in the previous quarter. The monthly active users increased by 19 per cent a year to 422 million, up from 406 million at the end of last year. In context, in the first quarter consumers increased by 16 percent each year, while active users per month increased by 18 percent.
Spotify had previously expected to hit 183 million low-cost subscribers in the quarter, but slightly missed this target as a result of the Russian market exit. “Apart from the impact of our exit from Russia, customer growth has exceeded expectations,” the company said in a statement.
Spotify customer growth does not appear to have significantly slowed down as a result of the Joe Rogan controversy, which has engulfed the company for a quarter. The controversy began when famous artists such as Neil Young and Joni Mitchell were dragging their music on the site after they claimed that Joe Rogan was using his Spotify podcast to spread false information about the vaccine. Bloomberg Noted that #SpotifyDeleted has recently gained traction on Twitter, with users vowing to stop using the service.
Rogan recently revealed that he has really won over his clients as a result of the controversy. “It’s interesting, my registration has gone up a lot – that’s crazy,” Rogan said of a recent event. “During the entire length, I got 2 million customers.”
Spotify is widely regarded as the world’s largest audio streaming service. Competitors such as Amazon Music and Apple Music do not regularly release customer numbers, but the latest public figures collected by Ally Music saw Apple Music with 60 million subscribers, and Amazon Music with 55 million.
Spotify announced it would end its Russian services at the end of March, a few days before the end of the financial quarter. In a press release, the company cited a “recently approved law” as a reason for the suspension; A clear reference to the Russian law passed after the invasion of Ukraine which punishes the spread of “fake news” up to 15 years in prison. Spotify announced the suspension almost at the end of the financial quarter, and said it expects services to be fully cured in April. It reports that it has already seen 1.5 million disruptions as a result of the storm and expects to see an additional 600,000 in April with a total of more than 2 million.
Spotify just recently began its services in Russiaand later called it “the beginning of the most successful new market to date.”
Otherwise, the average Spotify revenue per user fell slightly from € 4.40 (about $ 4.66) to subscribers in the last quarter to € 4.38 a quarter (about $ 4.65), although it increased 6 percent year-on-year. Overall, the company made a profit of € 131 million this quarter. Spotify generally prioritizes customer growth over quarterly profits and earnings, which has made quarterly profits like this unconventional.
This quarter marks a year since Spotify announced a new high-quality platform called Spotify HiFi that will provide quality CD treatment without loss. Although it is rumored to be planning to launch HiFi before the end of the year, it is not yet available. Meanwhile, the world’s second-largest music streaming service, Apple Music, has announced and launched its own hit-and-run music after announcing Spotify, while Amazon has suspended extra losses for its service. .