Q1 2018: Spotify now has 170 million monthly active users

spotify android app

Spotify is now a public company, and will now release financial results every quarter. For number lovers, rejoice, but for those who’d like a music analogy instead, they made it rain.

Okay, not really.

No ad to show here.

On Wednesday the Swedish streaming music company published its first set of results. And the numbers weren’t a stellar as investors had hoped.

For one, the company announced that it ended the quarter with 170-million monthly active users. Although that number’s up by 30% year-over-year, the company has quite a bridge to cross to reach its forecast 208-million subscribers by the end of 2018.

Premium subscribers were up by 4-million this quarter to 75-million. That’s an increase of 45% over Q1 2017.

Operating loss also came in at 4% of its total revenue, which was some €1.13-billion. It notes that exchange rates affected its profits negatively this quarter.

As for the subscriber balance, there’s an upside.

North America and Europe dominate Spotify’s monthly active user numbers, with a further 21% stemming from Latin America. But it’s the untapped markets of Asia, the Middle East and Africa that looks promising: the home of just 11% of Spotify’s users.

More acutely, just 9% of subscribers are from the “Rest of the World”. Europe remains its biggest market.

Feature image: Spotify

No ad to show here.



Sign up to our newsletter to get the latest in digital insights. sign up

Welcome to Memeburn

Sign up to our newsletter to get the latest in digital insights.

Exit mobile version