Spotify profits from more subscribers and price hikes
The number of people paying for Spotify Premium rose three percent to 226 million on a quarterly basis as the streaming service announced price increases across the US and several other global markets. Spotify’s monthly active users (MAUs) also rose to 574 million as of September 30th, a four percent increase from last quarter. Both rises were slightly above Spotify’s forecast.
Comparing performance year over year, Premium subscribers were up 16 percent while MAUs were up 26 percent. Spotify says the net growth in monthly active users was the second largest third-quarter increase in its history.
Spotify’s latest subscriber figures came as part of today’s earnings report, which covers the three months ending September 30th. In the midst of the quarter in late July, the company announced price increases — notable for being Spotify’s first in the US since launching there over a decade ago. It saw the price of a standard Spotify Premium subscription rise $1 to $10.99. Other markets and subscription plans like Duo, Family, and Student also saw increases.
Overall, Spotify reported a profit of €65 million (around $69 million) for the recent quarter, versus a €166 million ($177 million) loss the year previous. Operating income was €32 million (around $34 million), versus an operating loss of €228 million (around $243 million) in the same quarter the previous year. Spotify has frequently posted quarterly losses as it’s traditionally prioritized growth over quarterly profits.
The number of people paying for Spotify Premium rose three percent to 226 million on a quarterly basis as the streaming service announced price increases across the US and several other global markets. Spotify’s monthly active users (MAUs) also rose to 574 million as of September 30th, a four percent…
Recent Posts
- Microsoft ‘AI Era’ event liveblog
- Microsoft’s Surface and Windows AI event live blog: it’s Arm time
- Prime Video movie of the day: You Were Never Really Here is incredibly stylish and deeply disturbing
- A rundown of what’s new and improved in Android 15 — so far
- Samsung Galaxy Watch 7 leak points to major charging boost, but the Galaxy Watch FE could miss out
Archives
- May 2024
- April 2024
- March 2024
- February 2024
- January 2024
- December 2023
- November 2023
- October 2023
- September 2023
- August 2023
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- November 2020
- October 2020
- September 2020
- August 2020
- July 2020
- June 2020
- May 2020
- April 2020
- March 2020
- February 2020
- January 2020
- December 2019
- November 2019
- December 2011