Spotify India Still Struggling to Reach Profitability, Latest Financials Reveal

Photo Credit: grayom (Mumbai, where Spotify India is headquartered)
The latest financials reveal Spotify India is struggling to reach profitable status, despite its parent company’s global success.
Spotify India reported a net loss of $16.6 million (₹143 crore) for its financials dated 2023-24 — a 58% decline compared to the previous year. That’s despite its subscription revenue increasing by over 90%, its advertising revenue by 114%, and increased engagement from its 70