Spotify disclosed in its financial report for the fourth quarter of 2022 that as of December 31, 2022, its paid subscribers reached 205 million, a year-on-year increase of 14%; monthly active users were 489 million, a year-on-year increase of 20%. Spotify becomes the first music streaming service to surpass 200 million subscribers. But it faces stiff competition from Apple Music and Amazon Music, which offer lossless CD-quality music streaming at no extra cost, and Spotify, which does.
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