The list goes on and on. All of these companies have laid off staff. Spotify laid off 200.
I’ve never liked the subscription pricing model and have avoided all of these services. I can’t afford hundreds of dollars a year on things that aren’t staple items.
Hollywood accounting. None of them make a “profit” because they’re taxed on profits. Now it’s possible that they really are losing 180 million (a lot of startups like uber coast on investors with the assumption they’ll turn a profit at some point) but I wouldn’t take their word at face value.
Spotify and Amazon Prime are my only two services. Piracy covers movies and TV.
Spent over 20-years managing my digital music library, always painful. It’s a relief to drop all that and just search what I want, receive tunes.
Damned convenient to queue up a playlist when I’m at camp screwing around, singing kaya yoke with my gf, working around the house, all that. Plus, I can download all my songs to a local device about as fast as I can click. I’m often in the boondocks with no internet, but I always have music.
There is a weak defence to be made that they have never raised prices. In the context of our current situation this is just more profiteering.
Salesforce, up 24% https://www.salesforce.com/news/press-releases/2022/05/31/q1-fy23-results-update/
Spotify up 14%, 2.8 billion in profits https://newsroom.spotify.com/2023-04-25/spotify-reports-first-quarter-2023-earnings/ Edit: Wrong facts by me here as others pointed out. Spotify is in the hole a few hundred million. Maybe rise is justified? Idk. votes 30/1 at time of edit in case you’re curious.
Apple, 100 billion in Q2 2023
The list goes on and on. All of these companies have laid off staff. Spotify laid off 200.
I’ve never liked the subscription pricing model and have avoided all of these services. I can’t afford hundreds of dollars a year on things that aren’t staple items.
Not to shill for Spotify, but the very link you sent shows they made 3 billion in REVENUE, not profit. They actually lost 180 million dollars.
My guess - these price rises are because the VC tap is getting turned off
Hollywood accounting. None of them make a “profit” because they’re taxed on profits. Now it’s possible that they really are losing 180 million (a lot of startups like uber coast on investors with the assumption they’ll turn a profit at some point) but I wouldn’t take their word at face value.
The link you provided says that Spotify actually lost ~$170 million. $3 billion is the revenue.
Spotify and Amazon Prime are my only two services. Piracy covers movies and TV.
Spent over 20-years managing my digital music library, always painful. It’s a relief to drop all that and just search what I want, receive tunes.
Damned convenient to queue up a playlist when I’m at camp screwing around, singing kaya yoke with my gf, working around the house, all that. Plus, I can download all my songs to a local device about as fast as I can click. I’m often in the boondocks with no internet, but I always have music.
Maybe they shouldn’t have paid Joe Rogaine $200 million.
Yeah, mr.“selfmade” there. /s