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Spotify reports user and ad revenue growth despite earnings loss

Spotify reports user and ad revenue growth despite earnings loss
In brief

Spotify now boasts 456 million monthly active users (MAUs) and 195 million premium subscribers, up 20% and 13% year over year, respectively.

Ad-supported revenue grew 19% year-over-year to €385m ($386m) to comprise 13% of total revenue, reflecting double-digit growth across all regions except Europe, where the Swedish company “saw the impact of challenging regional economic conditions”.

Spotify also reported greater-than-expected losses of €0.99 per share (vs. €0.85 per share expected).

In an interview with The Media Leader in January, Spotify EMEA sales chief Rak Patel insisted the company could meet founder/CEO Daniel Ek’s expectation for ad revenue to make up at least 20% of Spotify’s revenue.

 

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