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Re:Spotify will reduce total headcount by 17% across the com... by soderfoo on Monday December 04, 2023 @07:16PM (#38525262)
R&D increased as a % of revenue YOY. I think the increased cost of revenue is part of the story, the other being salaries and benefits rolling up to R&D

The R&D expense is fully within their control, while things are a bit more complex with licensing costs.

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