Today, Spotify announced our first quarter 2023 financial performance, showing outperformance across nearly all key performance metrics. Take a look at the highlights below:
We had our strongest Q1 since going public in 2018, with nearly all our KPIs surpassing expectations:
Monthly Active Users grew by 22% year-over-year to 515 million driven by strength in both developed and developing markets, and nearly all age groups.
Premium Subscribers grew 15% year-over-year to 210 million with outperformance across all regions, led by Europe and Latin America.
Total Revenue grew 14% year-over-year to €3.0 billion, led by Subscriber gains.
Gross Margin finished at 25.2%, reflecting improved music and podcast profitability.
Operating (Loss)/Income finished at €(156) million, aided by lower marketing spend.
Interested in hearing more? Click here to review the full earnings release and listen to the webcast Q&A on our Investor Relations site here.
Click below to check out a sizzle reel of audio trailers from a few of our recent original and exclusive podcasts.
Today at Spotify Stream On, artists, songwriters, podcasters, and authors from around the world joined us for a day of announcements and inspiration. They also took part in hands-on demonstrations of tools and resources coming from Spotify, including new ways for artists to connect with fans and hype their work using Spotify for Artists.
Countdown Pages
Building buzz for an album release requires artists and their teams to work across multiple platforms and services, resulting in a disconnect between where music is being teased and where music is actually being streamed.
The most powerful time to reach fans is when they’ve chosen to engage with music, ahem, on Spotify. That’s why we’ve built a new tool called Countdown Pages.
Countdown Pages are dedicated spaces for artists to build anticipation for new albums. On Countdown Pages, fans can watch exclusive video clips, pre-save the upcoming release, preview the track list, and watch the timer count down to the release moment.
Plus, fans who pre-save an album release will receive a notification as soon as the release drops. We’ll also automatically add the album to a listener’s library, ensuring that more fans start streaming on day one. In early tests, on average, over 80% of pre-savers streamed the new release within the first week.
Want to check out a Countdown Page? Visit Ed Sheeran’s artist profile on your Spotify mobile app and scroll down to the Upcoming Releases section to pre-save his forthcoming album “–”.
We could not be more excited to bring Countdown Pages to life—but we don’t want to limit artists’ video options to Countdown Pages. So, we’re making them available in more places where music lives on Spotify.
Artists can add under-30-second videos to their album pages or their artist profiles. That way, new listeners and existing fans can go deeper into an artist’s stories while they’re listening. We call these videos Spotify Clips.
With Clips, new listeners will be able to get to know an artist and their music better, while loyal fans will be able to dive even deeper into an artist’s music, forging even stronger connections. The possibilities are expansive, with Clips enabling artists to build excitement for an unreleased song, promote a new album or single, tell the story behind a song, and much more. We’re unlocking this feature for thousands of artists this week, and we’ll be opening it up to more and more artists in waves throughout the spring.
Recent Comments