Three key reasons Spotify just posted its second quarterly operating profit ever
113 million subscribers
As a result, Spotify had a very slightly higher percentage of paid users vs. total Monthly Active Users in Q3 2019 than it did in the same period of the prior year ; its gross profit on advertising revenue, in the same period, was just €67 million . “The labels were acting in their own self-interest to shore up Spotify’s economically challenged margin structure.”
Spotify’s latest accounts further reveal: “In our agreements with certain record labels, the percentage of revenue used in the calculation of royalties is generally dependent upon certain targets being met… with minor exceptions, we are effectively currently meeting [these] targets and consequently we are generally paying the lowest percentage of revenue possible.”
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