Music
Spotify posts a €70 million loss in final quarter of 2023
The loss comes on foot of severance payments related to sweeping lay-offs and its lean into the audiobook market, the company said
Music streaming platform Spotify posted a loss in the fourth quarter of 2023, amounting to €70 million, the company has revealed.
The loss comes on foot of severance payments related to sweeping lay-offs and its lean into the audiobook market.
As chief executive Daniel Ek has sought to convince Wall Street that the company he founded is a “great business”, Spotify has been raising prices and firing thousands of workers in a bid to boost ...