Spotify Spain Is In The Red: Get 15% Less

Spotify: 81,088 euros gained in 2019. 15,217 euros lost in 2020. The losses may not seem like much, especially in the case of a company like Spotify, but we are talking about its Spanish subsidiary, and we are talking about losing more than €65,000 in just 12 months – and exactly the months of the Coronavirus pandemic, which has brought exactly like anything, has been to all online platforms to promote because of incarceration.

Spotify Spain in red

The curious thing is that this seems to mark a downward trend as in the year 2019, Spotify Spain achieved a net profit that was 26% lower than in 2018. According to data from El País Economía from the accounts it submitted The company in the registry office, Spotify Spain is officially in the red, registering a decrease in its business figure of 1.4 million, 15% in total – in 2019 it reached 9.4 million and in 2020 the figure fell to 8 million.

in 2016, Spotify Spain took in almost 49 million euros from the sale of subscriptions to its Premium streaming music service. In 2020 it was just €8 million, and 6.03 million of this was obtained from advertising, the rest being Premium subscriptions and partners, which represents a drop of a whopping €43 million in 4 years.

The change from UK to Sweden

curious, Spotify Spain had an average of 22 employees in 2020, which is 2 more than in 2019, going from 1.95 million euros in staff in 2019 to 2.77 million euros in 2020.

In December 2020, a change of ownership of the company took place as the parent company changed from Spotify Ltd. (based in the UK) to Spotify AB (in Sweden). Shall Spotify Spain continues to make losses this year? Or will they get those red numbers back in 2021?

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