Today Spotify reported its revenue at $4.38 billion, showing an increase of 20% compared to a year ago. The company stated “we outperformed across key metrics, moving us one step closer to a full year of profitability”.
Spotify’s metrics released today show its total active monthly users at 640 million, slightly higher than predictions. The company’s ad-supported users are 402 million and its premium subscribers at 252 million.
“We’ve never been in a stronger position, thanks to the outstanding execution by our team. I’m incredibly proud of the way we’ve delivered and the progress we’ve made,” said Daniel Ek, Founder & CEO, “We’re where we set out to be—if not a little further—and on a steady path toward achieving our long-term goals. This relentless pursuit of innovation and commitment to growth sets us up to deliver the most valuable user experience in the industry, while reinforcing the core strengths that make Spotify unique. I am very excited about what lies ahead for us.”
The company stated that its executives are “very pleased” with the performance and feel that the company is well-positioned to sustainably grow in the long term.
By CEO NA Editorial Staff
