馃嚦馃嚞NigeriaWest Africa
Spotify reports increased revenue and user growth in first quarter
via Punch Nigeria1 min read
Spotify announced its first-quarter results, revealing a rise in revenue and an increase in its user base. The music streaming giant reported that its monthly active users reached 761 million by the end of the quarter, slightly exceeding the company's guidance of 759 million. The number of paying subscribers also grew, reaching 293 million, which was in line with expectations. Co-chief executive Alex Norstrom stated that the company surpassed 760 million monthly active users and achieved its subscriber growth targets, observing healthy engagement from both existing and new users. Revenue for the first quarter totaled 4.5 billion euros, an eight percent increase from the previous year, while operating income saw a 40 percent rise to 715 million euros. Looking ahead, Spotify anticipates reaching 778 million monthly active users and 299 million paying subscribers by the end of April. Daniel Ek, Spotify's founder, transitioned from CEO at the beginning of 2026, handing over leadership to co-CEOs Norstrom and Gustav Soderstrom, but he continues to serve as executive chairman.
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Former Kogi West Senator, Dino Melaye, criticized President Bola Ahmed Tinubu鈥檚 Democracy Day broadcast, stating it was detached from the realities faced by Nigerians. Speaking in Abuja at a colloquium honoring Raymond Dokpesi, Melaye asserted that the speech failed to reflect the hardships of ordinary Nigerians, calling its statistics faulty and intentions disingenuous. He also cited worsening insecurity, including recent kidnappings and killings in Oyo and Kogi states, as evidence of the country's deteriorating situation. Melaye argued that the President should have declared a state of emergency regarding security and that the current administration demonstrates gross incompetence. He referenced Section 42b of the Constitution, emphasizing that the security and welfare of the people are the government's primary prerogative, and suggested that a leader who fails in these areas is a failed president. Melaye concluded that the President is overwhelmed and lacks the capacity to lead, calling for his honorable resignation. Additionally, former Nigerian Ambassador to Ethiopia, Nkoyo Toyo, urged Nigerians not to assume the outcome of the 2027 presidential election is predetermined and to engage in the selection of INEC commissioners. Former Benue State Attorney-General, Alex Ter Adum, expressed concern over the shrinking democratic space and declining tolerance for dissenting views.
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