Surpassing 700 Million Monthly Active Users
Spotify reached a significant milestone by surpassing 700 million monthly active users, beating their guidance and showing strong user fundamentals.
Strong Subscriber Growth
The company saw continued growth across all regions, with users spending more time on Spotify than ever before. Subscriber count reached 281 million, up 12% year-on-year.
Revenue and Gross Margin Beat
Spotify beat expectations on revenue, gross margin, and operating income, with total revenue at EUR 4.3 billion and gross margin at 31.6%.
Successful Product Innovations
The company shipped more than 30 new core features, enhancing user engagement and retention. These include Lossless audio, in-app messaging, and an improved Apple TV app.
Growth in Video Podcasts
Spotify saw a 54% year-over-year increase in users streaming video podcasts, with nearly 500,000 video podcast shows on the platform.
Expansion in Audiobooks
Spotify introduced audiobooks to 14 global markets, tripled its catalog in English language markets, and saw a 36% year-over-year increase in audiobook listeners.