The Spotify platform aims for one billion users by 2030 and a turnover of 100 billion US dollars (125 billion Canadian dollars) over 10 years, which will reach nearly ten times its revenue, the online audio service said on Wednesday. .
For Daniel Ek, its co -founder, Spotify – which originally specialized in music – can achieve this ambitious goal thanks primarily to the development of podcasts but also its audio books.
I know it’s complicated to put it all into one financial model, because honestly, this type of company doesn’t exist yet.said Daniel Ek on the day dedicated to investors.
In 2021, the Swedish company, listed in New York, achieved a turnover of 13.7 billion Canadian dollars.
It had 422 million followers by the end of the first quarter of 2022, making it, by far, the most popular audio platform in the world.
Spotify also expects a gross margin [chiffre d’affaires moins les coûts directement liés à l’activité] 40% over 10 years, while it has grown between 25% and 26% in previous quarters.
Awaiting revenue
The company also aims to achieve operating margin [chiffre d’affaires moins tous les coûts avant intérêts et impôts] 20%, which would indicate that the group has clearly become profitable, which is not the case today.
In recent quarters, the online audio service, now present in 183 countries and territories, has oscillated between moderately positive and slightly negative operating margins.
Spotify has invested more than 1.25 billion Canadian dollars to acquire podcast stars and developed a fully integrated offering, from production to advertising management, now making it the world’s leading player in the sector.
Last year, the group also took control of audiobook specialist Findaway.
France Media Agency
Source: Radio-Canada
