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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