Apart from the forecast of half a billion users, Spotify also expects premium subscribers to reach 207 million in the current quarter and revenue of 3.1 billion euros ($3.35 billion). Analysts were expecting 202 million subscribers and revenue of 3.05 billion euros. Spotify last year laid out plans to get 1 billion users by 2030 and to reach $100 billion revenue annually. "Spotify will double down on things that worked well and stop doing the things that don't work," he said. In 2023, the company expects revenue to begin to grow faster than operating expenses, which have jumped due to headcount growth and higher advertising costs.

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