Swedish music streaming application Spotify announced that it had reached a total of 180 million premium subscribers in the fourth quarter of 2021. While the number of monthly active users jumped to a whopping 406 million.

As Spotify has transformed into an Audio platform, with multiple features such as audiobooks, live music, and podcasts, it has opened up fresh advertising opportunities for big investors.

According to Spotify, its Ad-supported revenue had contributed a total of 15% to its revenue, the total gross margin for Q4 2021 being 26.5%.

Spotify is planning to expand as it heads into 2022, with expected total revenue of 2.6 billion Euros for the next quarter.