Spotify India narrows net loss in FY23

Spotify India LLP's net loss declined 26% to ₹344 crore in FY23. Revenue rose 86% to ₹167 crore while expenses fell 9% to ₹504 crore. Subscriptions increased 66%, ad revenue 91%. Entered India 2019, contends with JioSaavn, Amazon Prime Music, and Apple Music. Globally, Spotify has 615 million users. Data from Tofler; FY24 unfiled.