• Spotify Technology average ebitda margin for 2023 was -4.1%, a 283.18% decline from 2022.
• Spotify Technology average ebitda margin for 2022 was -1.07%, a 264.62% increase from 2021.
• Spotify Technology average ebitda margin for 2021 was 0.65%, a 147.1% decline from 2020.

Ebitda margin can be defined as earnings before interest, taxes, depreciation and amortization as a portion of total revenue.