The Swedish streaming company Spotify has announced a record of more than 1 billion. euro profit after a year-long reduction in expenses and the number of employees.
Last year, the company laid off 17 percent in order to cut costs. workers.
And in December Spotify CEO Daniel Ek said about 1,500 more jobs would be cut as part of “significant actions to optimize our costs” to help the company achieve its goals.
Spotify currently has 615 million subscribers. users, which is slightly less than the forecast of 618 million users in the quarter.
The company plans to increase this number to 631 million by the middle of the year. In the first quarter, the number of subscribers increased by 14 percent. up to 239 million
According to journalists, since the beginning of its activity in 2006 Spotify has invested heavily in business development and exclusive content. The platform offers podcasts, music, audiobooks and other content.
