Apple recently announced changes coming to the App Store for developers in the European Union due to the Digital Markets Act. However, Spotify CEO Daniel Ek criticizes Apple for proposed fees, calling them extortion. Ek claims that Apple’s new plan is a complete farce and accuses the company of behaving badly for years. Apple, on the other hand, argues that the changes benefit developers and offer more choice.
Streaming giant Spotify reported quarterly profit and exceeded expectations with its monthly active users and subscribers. The company posted a third quarter operating income of 32 million euros, its first quarterly profit since 2021, helped by higher gross margins and lower costs. Spotify aims to reach 1 billion users and $100 billion in revenue annually by 2030.
