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Spotify re-invented the radio
(lemmy.world)
Can't even seek through songs.
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this post was submitted on 17 Oct 2023
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Spotify is not profitable nor ever has been. It accrued $4B in additional debt last year. The business is subject to high royalty fees. As a competitor, I just leave free Spotify running all day on mute since they lose money from every subscriber. The royalties are the same whether they make money or not on the customer. It is wise of them to more aggressively convert people to paid plans, but Iโm sure that their margins are razor thin.
You individually are a competitor to Spotify?
I hum in the shower ๐๐๐
Spotify execs hate this one trick
Not sure why my comment was deleted, but no. I work for a corporate competitor or them. Spotify is a public company, so it is plain to see that they are not profitable and have never been.