Amidst a quarter of cuts and belt-tightening.
Spotify posted a net loss of €225 million as part of today’s earnings release, which covers the first quarter of 2023. That compares to a net income of €131 million in the same period a year earlier, but down from a €270 million loss last quarter. Losses like this aren’t unusual for a business that’s generally prioritized growth over quarterly profits. Average revenue per user fell 1
percent to €4.32 , likely as a result of the discounted and lower prices Spotify charges to attract customers in new markets. Once again, this earnings release doesn’t mention when Spotify’s higher-quality HiFi tier may launch. The company announced the new service
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