iWorld
Airtel Payments Bank launches new digital savings account
KOLKATA: Airtel Payments Bank today announced the launch of its new savings account – Rewards123 to give more value to customers when they transact digitally using the bank account.
The Rewards123 account is designed to offer consistent value, with assured rewards on different types of digital transactions throughout the year. The new savings bank account gives multiple benefits to users with an annual earnings of upto Rs 960.
Customers can easily open or upgrade to Rewards123 through the Airtel Thanks app using Video KYC. The process is simple and can be completed within few minutes on the app from anywhere in the country.
Customers can get Rewards123 at an annual fee of Rs 299 only and enjoy a wide range of benefits.
·Load money benefits– one per cent cashback when a customer loads Rs 1000 through UPI in their account. The customer will get a maximum of Rs 10 per month.
·Shopping Rewards- two per cent cashback on online shopping of Rs 1000 or more using the platinum debit card which comes with the account. The customer will get a maximum of Rs 40 per month.
·Payment Benefits- Flat Rs 30 cashback per month on payments for prepaid recharges, post-paid, broadband, landline, and DTH bill payments.
Other benefits include Zero minimum balance, free Platinum Online Mastercard Debit Card and unlimited deposits with Auto-Sweep Facility.
Airtel Payments Bank MD & CEO Anubrata Biswas said, “Our research reflected that digitally ready, time sensitive consumers, seek consistent value during transactions, and are tired of surfing for the next best deal. With this insight, we developed Rewards123, a consistent value-driven proposition, which can be used safely as a separate account for digital transactions. This is India’s only bank account that offers regular rewards every month to customers on digital transactions. This innovation is an important addition to our neo-banking proposition of simple, secure, and value-driven solutions, and will further India’s mission of digital inclusion.”
iWorld
Spotify Q1 revenue hits €4.5bn as users cross 760 million globally
Subscriber growth and margins rise as platform bets big on AI and discovery
LONDON: Spotify has kicked off 2026 on a strong note, reporting first-quarter revenue of €4.5 billion, up 14 per cent year-on-year in constant currency, as its global user base swelled past 760 million.
The streaming giant said monthly active users rose 12 per cent year-on-year to 761 million, while premium subscribers climbed 9 per cent to 293 million. The steady rise in both free and paid users signals continued demand for its expanding mix of music, podcasts and audiobooks.
Profitability also struck a chord. Gross margin improved by around 140 basis points to 33 per cent, marking one of the company’s strongest first-quarter performances to date. Operating income reached €715 million, comfortably ahead of expectations.
Spotify co-CEO Alex Norström said, “We surpassed 760 million MAU, delivered on the subscriber growth we aimed to achieve, and saw healthy engagement from existing users, reactivations and new users alike.” He added that increased listening and viewing activity in key markets such as the United States reflects confidence in sustained growth and low churn.
The company’s other co-CEO, Gustav Söderström, pointed to long-term ambition, saying the platform’s scale, creator ecosystem and investments in personalisation are opening up “new growth vectors” across formats and user engagement.
Revenue growth was largely driven by the premium segment, which rose 10 per cent to €4.1 billion, supported by price increases and stable average revenue per user of €4.76. However, the ad-supported business saw a 5 per cent dip to €385 million, though it still posted a modest 3 per cent increase in constant currency terms.
Cash generation remained robust, with free cash flow at €824 million for the quarter and €3.2 billion over the past 12 months. The company also benefited from lower-than-expected operating expenses, including €49 million in reduced social charges linked to share-based compensation.
Beyond the numbers, Spotify is leaning into product innovation. New AI-driven features such as “Taste Profile” and “Prompted Playlist” aim to give users more control over recommendations, while tools like “SongDNA” and “About the Song” deepen music discovery. The platform is also expanding audiobook charts in the United States and United Kingdom to boost engagement in newer formats.
Looking ahead, Spotify expects momentum to continue into the second quarter, forecasting 778 million monthly active users, 299 million subscribers, revenue of €4.8 billion and operating income of €630 million.
With €8.8 billion in cash and 7,258 employees, the company appears well-positioned to keep its growth story in rhythm as competition in digital entertainment intensifies.
