Tag: Genesis

Peso Pluma’s New Album Reveals ‘The Good, The Bad, and The Ugly’

June 24, 2024

Peso Pluma—aka “La Doble P”—is one of the fastest-growing Latin artists in Spotify’s history and the first to go from 2 million monthly listeners to 50 million in under a year. As Música Mexicana’s popularity continues to soar, the singer, rapper, and songwriter is leading the way with more than 14 billion streams on Spotify . . . and counting.

Peso’s 2023 album, GÉNESIS, was the most-streamed album in Mexico and ninth-most-streamed worldwide on Spotify last year. And his new album, ÉXODO—featuring collaborations with the likes of Junior H, Eslabon Armado, DJ Snake, Cardi B, Arcángel, Rich The Kid, and Anitta—is poised to follow suit.

For the Record caught up with Peso to talk about the new album, growing as an artist, and bringing Musica Mexicana to more listeners.

Your new album, ÉXODO, has just been released. How is it different from GÉNESIS?

You’ll get to see a whole different side of me on ÉXODO. It was made in many stages and phases of my life and career. It’s all in there, the good, the bad, and the ugly. It’s a really raw side of me.

You’re officially the Mexican artist with the most Spotify streams ever. How does that make you feel?  

Wow—what an honor! It feels amazing! Spotify has supported my project from day one and put their faith in what we were doing. We are all so grateful that this project has been so well received, and this motivates me even more to keep going, keep breaking records and finding ways to evolve my music, because my fans deserve the best.

How has working with Spotify helped you build a stronger connection with your fans?

Because Spotify is global, we have the opportunity to get discovered around the globe as well. Música Mexicana is now known in places where we never thought they would listen to us.

What advice do you have for other artists who are building their careers?

Never give up, don’t let people detour you from your dreams, and keep working until you achieve your goals.

Check out Peso Pluma’s new album, ÉXODO, for yourself

Spotify Reports Second Quarter 2023 Earnings

July 25, 2023

Today, Spotify announced our second quarter 2023 financial performance.

Spotify had a very strong quarter. We beat guidance and welcomed more users and subscribers than expected, with growth continuing to come from markets all over the world.

As we previewed on the Q1 earnings call, we expected to incur charges in the second quarter related to our ongoing efforts to become a more efficient and stronger business. These were excluded from the Q2 guidance we provided last quarter.

  • Monthly Active Users surged 27% to 551 million. Net additions of 36 million were 21 million ahead of guidance and represent an all-time high for the company. 
  • Subscribers grew 17% Y/Y to 220 million. Net additions of 10 million were 3 million ahead of guidance and represent the highest Q2 in company history. 
  • Total Revenue grew 11% Y/Y to €3.2 billion, in-line with guidance. 
  • Adjusted Gross Margin** finished in-line with guidance at 25.5% excluding charges related to our actions in the quarter to streamline operations and reduce costs.
  • Adjusted Operating Loss** of (€112) million was better than guidance, excluding charges related to our actions in the quarter to streamline operations and reduce costs.

Take a look at additional highlights below:

Interested in hearing more? Click here to review the full earnings release and listen to the webcast Q&A on our Investor Relations site here. And click below to check out a sizzle reel of audio trailers from a few of our recent original and exclusive podcasts. 

 

**Adjusted Gross Margin and Adjusted Operating Loss are non-IFRS measures. See Reconciliation of IFRS to Non-IFRS Results below for additional information.

Reconciliation of IFRS to Non-IFRS Results