By Miguel Mike Medina
Photo Credit: DADO RUVIC | Credit: REUTERS
Spotify, the music streaming giant, reached its highest stock price since 2019. The platform has reached more subscribers in the fourth quarter. Revenue went up by 7% year over year. Spotify added 38 million users in the quarter.
Spotify’s total monthly users are now at 751 million. Those are staggering numbers for the Swedish company. Alex Norstrom is the co-ceo of Spotify. His platform has grown in many parts of the world, including Latin America, Europe, and more.
Spotify is also known for consistently raising subscription prices. To use the premium service, it costs up to 12.99 a month. Spotify expects to grow by 8 million this quarter, bringing its total to 759 million.
Last year, Spotify created something called “Spotify Wrapped,” and the point was to have listeners hear the most popular songs at the end of the year. It turned out to be a success. More than 630 million users share on social media.
Alphabet Added New AI Risks
The company added new AI risks to its annual report. Alphabet held a $25 billion bond sale in November. Alphabet has plans to raise $20 billion, including a 100-year bond.
Sundar Pichai is the CEO of Alphabet. One of his plans is to load up high-priced chips and build new facilities. According to Pichai, the Gemini AI app had more than 750 million monthly active users.
Miguel Mike Medina is the publisher of The MMM Journal. He can be reached at medinamiguelmike@gmail.com and themmmjournal@gmail.com
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