Spotify recently announced that its premium subscriber base had touched 205 million.

Spotify also claimed that its paid user base represented a 14% year-on-year increase.

Spotify’s CEO, Daniel Ek confirmed that Spotify is expected to “move faster with more intensity of effort” and the company will also drive “even greater efficiency in 2023."

Spotify reduced its global workforce by 6% as it laid off about 600 employees.