The increase in the number of users would be due to successful marketing campaigns in India and the launch in Russia and other Eurasian countries such as Armenia, Kazakhstan and Belarus, according to Spotify. Spotify still has a much higher number of users than Amazon Music (55 million) and Apple Music (60 million).
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Despite the growth in the number of users and an increase in turnover of 14 percent to almost 2 billion euros, the company made a loss of more than 100 million euros. Trade news site The Verge writes that the company made a profit of more than 240 million euros a year earlier. Spotify is probably now at a loss due to attempts to grow the number of users. They are usually lured with cheap (trial) subscriptions.
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