As the music industry continues to evolve, the use of artificial intelligence (AI) has become a hot topic in recent years. While AI can be a powerful tool for music creation, it also presents a potential threat to copyright ownership. In response to this concern, Spotify has announced that it is working with major record labels to develop a solution.
If Spotify keeps growing at its current rate, it will have a billion global users by the midpoint of 2027.
That was one of MBW’s major takeaways from the firm’s Q1 2023 quarterly earnings today (April 25), which confirmed that SPOT’s monthly active user (MAU) count hit 515 million at the end of March this year, up by 26 million quarter-on-quarter.
As explained by Spotify CEO, Daniel Ek, on the firm’s call with analysts this morning, that QoQ growth in users was the second biggest in Spotify’s history, second only to Q4 2022, when it added 33 million MAUs.
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