02/05/2020 - 12:06
- Clarín.com
- Technology
The Swedish music distribution and streaming podcast company, Spotify, announced an increase in the monthly subscription that especially affects users of the service in Argentina with the Premium plan.
From February 3, "the price of Family Premium will change from 149 to 239 Argentine pesos + applicable taxes," they reported from the Swedish platform on a website. This represents an increase of 60 percent over the value of 2019.
On the other hand, this price difference will take effect from April for those users who were already attached to a plan.
This increase in the service comes in an unfavorable context for Spotify worldwide, since it recorded net attributable losses of 186 million dollars in the whole of 2019 , compared to the "red numbers" of 78 million that it registered during the previous year (+ 138%), according to a report revealed by the company.
Total platform revenues grew 28.6% between January and December, reaching 6,764 million dollars. On the other hand, the costs associated with revenues , mainly due to the copyright that Spotify must pay to artists and record companies, increased by 29.1% , to 5,042 million euros.
The firm closed the year with a total of 271 million active monthly users, 31% more than a year earlier. Of that figure, 124 million users were 'Premium and contributed 6,086 million euros in revenue, up 29.2%. The number of users with free accounts grew by 32%, to 153 million, who contributed to the billing of Spotify with 678 million euros, 25.1% more, thanks to the publicity generated.
In the fourth quarter, Spotify posted net attributable losses of $ 209 million, compared to net earnings of 442 million euros it recorded between October and December last year.
Source: DPA