Both numbers beat forecasts.
However, losses widened on investments inpodcastingand other costs.
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Spotify execs promised that 2022 was the year of peak losses in the business.
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With Ostroffs exit, strategy is now consolidated under co-presidents Alex Norstrom and Gustav Soderstrom.
From a strategy point of view it wont differ that much.
Marketing was under Alex, but not advertising, and not content.
And now we are looking at it as one P&L across the board.
Podcasting has been a drag on the gross margin side, said Ek.
Some investments worked out, some havent.
Some shows worked, some didnt perform as we expected.
And that is a sign of maturing.
You go for growth first and then you seek efficiency.
But, generally, you will see us focus on efficiency…not just growth at all costs.
Without FX, it was 3.17 billion.
Losses widened to 231 million euros (around $250 million) or 1.40 a share.
