• Cryptocurrency
  • Earnings
  • Enterprise
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact Us
TechBooky
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Home Enterprise

Spotify Now Has 381m Monthly Active Users And 172m Paid Subscribers

Paul Balo by Paul Balo
October 28, 2021
in Enterprise
Share on FacebookShare on Twitter

 

Spotify has released its financial results for the third quarter of 2021. The results marked an improvement in profitability, with nearly all of its major metrics finishing better than expected, including Monthly Average Users (MAUs), Revenue, Gross Margin, and Operating Income.

Details of the press release showed that Spotify’s monthly active listeners and paid subscribers increased to 381 million and 172 million respectively, a 19 percent year-over-year increase in both cases.  Last quarter, the company had 165 million paying customers and 365 million monthly active users, and the latest report shows that Spotify added 16 million listeners and seven million subscribers.

As for Podcasts, Spotify said that there was an increase in the number of people listening to podcasts on its platform, with podcast consumption hours reaching an ”all-time high” in the quarter. It added that it’s catalogue has grown from 2.9 million episodes at the end of the second quarter to 3.2 million by the end of the quarter.

The results also showed that the company’s revenues increased by 27 percent year-on-year to 2.5 billion euros ($2.9 billion) in the third quarter. Notably, ad-supported revenues surged by 75 percent to 323 million euros ($374 million), while subscription revenues grew by 22 percent to 2.18 billion euros ($2.53 billion). What this means is that ads now account for 12.9 percent of Spotify’s overall turnover, reflecting the company’s strong performance in that part of its business. According to the report, higher sold impressions, greater CPMs, and quicker demand within the Spotify Audience Network helped Ad-Supported-Revenue outperform.

Spotify also recorded an operating profit of 75 million euros ($87 million)  in the third quarter this year, compared to an operating loss of 40 million euros ($46 million) a year ago. The company’s Gross Margin finished at 26.7 percent in Q3, above the top end of its guidance range and reflecting nearly 200 bps of year-over-year expansion. Premium Gross Margin was 29.1 percent in the third quarter, up 182 bps year-over-year, and Ad-Supported Gross Margin was 10.5 percent, up 993 bps year-over-year.

According to the company’s statement, “the Gross Margin improvement reflected a favorable revenue mix shift towards podcasts, marketplace activity, improved music advertising operating leverage, and Other Cost of Revenue efficiencies (e.g. payment fees, streaming delivery costs), which were partially offset by higher non-music and other content costs and publishing rate increases.”

Shares of the world’s largest audio streaming service increased by 8.2 percent on Wednesday, following the report announcement. Per its guidance for its fourth quarter, Spotify plans to have over 400 monthly active users, and over 177 million premium subscribers by the end of the year.

Related Posts:

  • Spotify's Second Quarter Results Surpasses Analysts'…
  • Spotify's Third-quarter Revenue Narrowly Surpasses Analysts' Estimates
    Spotify's Third-quarter Revenue Narrowly Surpasses…
  • Spotify Reports Strong User Growth And Implements Premium Price Increase
    Spotify Reports Strong User Growth And Implements…
  • 148-1487614_spotify-logo-small-spotify-logo-transparent-hd-png
    Spotify Jacks Up Premium Prices On Strong Earnings
  • spotify ui
    Spotify’s Premium Subscribers Increase To 188 Million In Q2
  • PicsArt_04-01-10.27.41
    Spotify Surpasses 500 Million Monthly Users For The…
  • PicsArt_04-01-10.27.41
    Unexpected Quarterly Earnings As Spotify Users Grow…
  • YIVGYD3QCRPM7FHYSIQKMNFR6M
    Spotify Report A Higher Fraction Of Premium Users’…

Discover more from TechBooky

Subscribe to get the latest posts sent to your email.

Tags: Spotifystreamingsubscribers
Paul Balo

Paul Balo

Paul Balo is the founder of TechBooky and a highly skilled wireless communications professional with a strong background in cloud computing, offering extensive experience in designing, implementing, and managing wireless communication systems.

BROWSE BY CATEGORIES

Receive top tech news directly in your inbox

subscription from
Loading

Freshly Squeezed

  • Linux Mobile OS Postmarket 25.06 Adds New Device Support June 23, 2025
  • SMB Fintech Finom Raises €115M Amid European Competition June 23, 2025
  • Nigeria’s Top Financial Apps with 10M+ Downloads June 23, 2025
  • SBM Research Flags Flaws in Bosun Tijani’s Telecom Leadership June 23, 2025
  • Opinion: Lebara Should Have Partnered with 9mobile Instead June 21, 2025
  • Lebara Brings UK Budget Calling Model to Nigeria June 21, 2025

Browse Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    

Quick Links

  • About TechBooky
  • Advertise Here
  • Contact us
  • Submit Article
  • Privacy Policy
  • Login

© 2021 Design By Tech Booky Elite

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • African
  • Artificial Intelligence
  • Gadgets
  • Metaverse
  • Tips
  • About TechBooky
  • Advertise Here
  • Submit Article
  • Contact us

© 2021 Design By Tech Booky Elite

Discover more from TechBooky

Subscribe now to keep reading and get access to the full archive.

Continue reading

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok