Spotify's sales and marketing costs 2013-2023
In 2023, Spotify's sales and marketing costs amounted to around 1.5 billion euros, a seven percent decrease from the previous year. According to the company, the decrease was primarily to a decrease in legal fees of 30 million euros, a decrease in share-based compensation of 27 million, and a decrease in other administrative costs of 23 million.
Spotify in numbers
Spotify is a Swedish audio streaming and media services provider founded in 2006. While the platform remains the undisputed champion of the European streaming landscape, Spotify’s popularity and influence also extend far beyond the continent. Data shows that Spotify outpaces competitors such as Apple Music and Pandora in the running for the leading music streaming service in the United States. Additionally, the global number of Spotify Premium subscribers reached a record 205 million in late 2022. While Spotify’s revenue also peaked at 11.7 billion euros in 2022, its operating loss has not failed to make headlines either.
Branching out into the world of podcasts
While Spotify’s extensive music catalog draws millions of new listeners each year, the platform’s appeal also stems from its commitment to podcasts and other digital audio formats. In 2020, Spotify overtook Apple Podcasts as the most popular podcast app in the United States. And while podcast fans can listen to a multitude of titles from various genres that Spotify has acquired over the years, they can also choose from an ever-expanding catalog of Spotify original podcasts. One of the most successful but perhaps equally as controversial titles in Spotify’s repertoire is the Joe Rogan Experience. Despite coming under fire in 2022 for allegedly spreading COVID-19 misinformation, Joe Rogan’s show remains one of Spotify’s most lucrative deals and biggest moneymakers in terms of ad sales.
