Tag: subscribers

Spotify Reports First Quarter 2024 Earnings

April 23, 2024

Today, we announced our first quarter 2024 earnings. In a solid start to the year, Spotify reported…

  • Monthly Active Users grew 19% Y/Y to 615 million.
  • Subscribers increased 14% Y/Y to 239 million.
  • Total Revenue was up 20% Y/Y to €3.6 billion.
  • Gross Margin reached 27.6%.
  • Operating Income improved to €168 million.

“We’ve talked about 2024 as the year of monetization and we’re delivering on that ambition,” said Spotify co-founder and CEO Daniel Ek. “Now as we’ve shifted to focus on strong revenue growth and margin expansion, we see a clear opportunity to ensure we are also continuing to grow the top of our funnel. I feel good about the changes we are implementing and remain very confident in our ability to reach the ambitious plans we’ve outlined.”

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.

Spotify Reports Second Quarter 2023 Earnings

July 25, 2023

Today, Spotify announced our second quarter 2023 financial performance.

Spotify had a very strong quarter. We beat guidance and welcomed more users and subscribers than expected, with growth continuing to come from markets all over the world.

As we previewed on the Q1 earnings call, we expected to incur charges in the second quarter related to our ongoing efforts to become a more efficient and stronger business. These were excluded from the Q2 guidance we provided last quarter.

  • Monthly Active Users surged 27% to 551 million. Net additions of 36 million were 21 million ahead of guidance and represent an all-time high for the company. 
  • Subscribers grew 17% Y/Y to 220 million. Net additions of 10 million were 3 million ahead of guidance and represent the highest Q2 in company history. 
  • Total Revenue grew 11% Y/Y to €3.2 billion, in-line with guidance. 
  • Adjusted Gross Margin** finished in-line with guidance at 25.5% excluding charges related to our actions in the quarter to streamline operations and reduce costs.
  • Adjusted Operating Loss** of (€112) million was better than guidance, excluding charges related to our actions in the quarter to streamline operations and reduce costs.

Take a look at additional highlights below:

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. And click below to check out a sizzle reel of audio trailers from a few of our recent original and exclusive podcasts. 

 

**Adjusted Gross Margin and Adjusted Operating Loss are non-IFRS measures. See Reconciliation of IFRS to Non-IFRS Results below for additional information.

Reconciliation of IFRS to Non-IFRS Results

Adjusting Our Spotify Premium Prices

July 24, 2023

*Have questions about your Spotify Account? Visit https://support.spotify.com/article/price-updates/ for information.

Since launching in 2008, Spotify has innovated and invested to build the best audio experience for you and your favorite artists and creators. We have continually revealed new opportunities for fans and creators to connect through the power of our platform, from discovery tools like our new AI DJ, to fan-favorite shared experiences like Blend and the introduction of podcasts and audiobook content. 

With 200+ million Premium subscribers, we’re also proud to be the world’s most popular audio streaming subscription service, giving Premium users access to on-demand and ad-free music listening, offline music downloads, and quality music streaming. The market landscape has continued to evolve since we launched. So that we can keep innovating, we are changing our Premium prices across a number of markets* around the world. These updates will help us continue to deliver value to fans and artists on our platform.

Starting from today, existing subscribers in these markets will receive an email explaining what this means for their account. In the US, the new prices are:

Premium Individual  Premium Duo Premium Family  Premium Student 
$10.99  $14.99 $16.99 $5.99

For more info, head to Spotify.com and our FAQ page to find more details on these changes, when they will go into effect, and how to check your account information. 

*Andorra, Albania, Argentina, Austria, Australia, Bosnia and Herzegovina, Belgium, Bulgaria, Brazil, Canada, Chile, Colombia, Costa Rica, Cyprus, Denmark, Ecuador, Estonia, Spain, Finland, France, United Kingdom, Greece, Guatemala, Hong Kong, Croatia, Indonesia, Ireland, Israel, Iceland, Italy, Lithuania, Luxembourg, Latvia, Monaco, Montenegro, North Macedonia, Malta, Mexico, Netherlands, Norway, New Zealand, Peru, Portugal, Serbia, Sweden, Singapore, Slovenia, Slovakia, San Marino, Thailand, Türkiye, United States, Kosovo.

*Update as of August 1, 2023: We have also changed Premium prices in the United Arab Emirates, Switzerland, Czechia, Hungary, Malaysia, Romania, Saudi Arabia.

*Update as of October 2, 2023: We have also changed Premium prices in Germany, Philippines and South Africa.

*Update as of January 8, 2024: We have also changed Premium prices in Poland and Liechtenstein.

*Update as of February 1, 2024: We have also changed Premium prices in Argentina, Estonia, Panama and Türkiye.

Didn’t Get Your Free Google Home Mini? Now’s Your Chance

December 10, 2019

A few months ago, we announced that eligible existing Premium Individual and Premium Family master account users in the U.S. could get a Google Home Mini while supplies lasted, introducing households to a new, exciting way to enjoy music at home. For a limited time. For free. 

Now, we’re bringing the offer back to Individual and Family master Premium accounts, and adding existing Students into the mix.

So if you haven’t taken up the offer before, now’s your chance! Oh—and if you no longer have an Individual Premium account but are considering coming back, this offer may apply to you, too—just visit spotify.com/us/comeback to check if you qualify!

Streaming your favorite tunes and music playlists has never been so easy—or hands-off. You can also find more details here.