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It should be noted that the latest rollout follows Spotify’s initial rollout in 27 languages. Then, in March 2021, his second major expansion returns with his 36 languages. The company statement reads:
“This expansion will give users a more personal experience, allowing them to access Spotify in their native or local language. We can make more connections.”
It’s fair to say that Spotify connects hundreds of millions of music fans with their catalog. The Swedish technology company has 205 million subscribers and will be shutting down in 2022. This was followed by a 5% increase from 195 million in Q3, and ad-supported listeners at 295 million, up 8% from 273 million in the previous quarter. Annual revenue for 2022 is reportedly up 21% year-on-year to €11.7 billion ($12.4 billion).
Also read: SpaceX successfully launches 56 Starlink satellites into orbit – (phoneworld.com.pk)
CEO Daniel Ek acknowledged some weaknesses in the company’s strategy during an earnings call with investors in late January. He conceded that issues will “change” with respect to podcasting investments and the recent “tightening” of spending.
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