Business

Spotify’s monthly active users rise 19% to 422M in Q1

Premium subscribers up 15% to 182M in January-March period

Spotify saw its monthly active users increase 19% annually to 422 million in the first quarter of 2022, according to its financial results statement released Wednesday.

Sweden-based global audio streaming and media services provider saw its premium subscribers reach 182 million in the January-March period, which is up 15% from the same period of last year.

“During March, there was a brief service outage that caused users to be involuntarily logged out of Spotify,” the statement said.

As a result, the company believes that certain affected users created new accounts to log back in, which resulted in approximately 3 million additional monthly active users in the first quarter.

The firm posted total revenue of €2.66 billion ($2.81 billion) in the first quarter of 2022, which was up 24% year-on-year.

Revenue from premium subscribers grew 23% to almost €2.4 billion in the January-March period.

Source
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