These numbers are the result of heavy investment in new spaces – like Podcasts and the expansion of audiobooks to more regions. And to make its business more lucrative, Spotify is expected to launch the most anticipated HiFi audio and increase the prices of plans soon.
Spotify Q4 2022 Earnings Report
All this success is the result of heavy investments in new podcast shows and the acquisition of Kinzen. Also, the streaming platform has expanded its audiobook service to Australia, the UK, New Zealand, and Ireland. All these, besides adding support for Spotify Connect in Android 13 devices, let users play music over Wi-Fi to speakers.
And with fans waiting for the much-awaited HiFi Audio service, Spotify is surely having a good time ahead . We anticipate this to come bundled with a new streaming plan called the Platinum tier , which the company has been surveying its users about.
