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submitted 2 months ago* (last edited 2 months ago) by wanderingmagus@lemm.ee to c/news@lemmy.world

When Spotify announced its largest-ever round of layoffs in December, CEO Daniel Ek hailed a new age of efficiency at the streaming giant. But four months on, it seems he and his executives weren’t prepared for how tough filling in for 1,500 axed workers would be.

The music streamer enjoyed record quarterly profits of €168 million ($179 million) in the first three months of 2024, enjoying double-digit revenue growth to €3.6 billion ($3.8 billion) in the process.

However, the company failed to hit its guidance on profitability and monthly active user growth.

Edit: Thanks to @Zerlyna@lemmy.world for the paywall-free link: https://archive.ph/wdyDS

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[-] towerful@programming.dev 85 points 2 months ago

I have finally stopped using Spotify.
Now using TIDAL and absolutely loving it. It's like what Spotify used to be, loads of great recommendations, much better audio quality, a bit cheaper, and I believe the artists get a better cut.
It's too good to last, but I'm going to enjoy it while it does

[-] 18_24_61_b_17_17_4@lemmy.world 3 points 2 months ago

Odd that it says $10.99 for individual plan on the website but $12.99 when you download the app.

[-] skarn 2 points 2 months ago

I expect that's due to the 30% cut taken on subscriptions purchased through the app store

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this post was submitted on 24 Apr 2024
781 points (98.9% liked)

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