Spotify India’s ad revenue up 91% in FY23
The platform's revenue rose 86% and subscription revenue saw a 66% surge
Audio streaming platform Spotify has posted a 91% surge in its ad revenue for FY23 at Rs 63 crore, according to a report quoting Toefler.
Net losses have reportedly declined 26% to Rs 344 crore and revenue has been up 86% to Rs 167 crore. Expenditure fell 9% to Rs 504 crore. The subscription revenue rose 66% to Rs 88 crore.
Spotify recently started Duo, a premium subscription plan aimed at 54 markets. The offering is targetted at couples sharing homes. This year for the General Elections, the platform collaborated with the Election Commission of India through the campaign, ‘Play Your Part’, encouraging eligible voters to cast their votes and perform their democratic duties.
