Spotify reveals its crazy dream for the next ten years

Spotify is today the number 1 platform for audio streaming. However, the Swedish service suffered substantial losses for many years. And it was only very recently that he became a beneficiary. Thus, the company recorded a profit of 131 million euros during the first quarter of 2022, while its turnover stood at 2.7 billion euros, an increase of 24% over a year.

Towards the billion users for Spotify?

That wasn’t enough to calm investors down, and while the tech sector has been struggling since the start of the year, Spotify’s stock has plummeted. Also, the investor day organized by the company on Wednesday was eagerly awaited.

The general manager of the company, Daniel Ek, has precisely not beaten around the bush by making very nice promises to shareholders. According to him, Spotify should reach 100 billion euros in annual revenue in ten years. This would be an incredible rise in power when we know the turnover stood at 11.4 billion euros last year.

To achieve such a feat, the streaming platform relies on several areas of growth. Besides music, the Swedish service also bets heavily on podcasts. And, after the investment time, a lot of income should come from it. Ultimately, this segment of activity could therefore weigh up to 20 billion euros per year.

Likewise, audiobooks are another avenue mentioned by the entertainment giant for its growth. Margins could even reach 40% there, although the manager did not give any additional details on how long this would take.

Finally, Spotify will also launch new types of content in the next ten years with the idea of ​​increasing its sources of income. The platform now has just over 400 million users, and by 2030 that total could reach one billion.

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Inevitably, we are forced to take his word for it, and the future will allow us to verify whether his forecasts turn out to be more or less accurate. In the meantime, the message seems to have been appreciated by investors, since the action of Spotify has resumed colors in the wake of this intervention.

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