Earlier in the year Spotify filed its IPO to become a public company and as a part of their new-found fiduciary responsibility to shareholders, they’ve shared their first ever public earnings report. Here’s a few more things we learned about the report as well which you can read in full here.
Spotify now has 170 million active monthly users
Of that, 75 million are paid subscribers and 99 million stream via the free ad-supported model – both all time high’s for the company. The total 170 million figure is a 30% increase year on year while the 75 million paid statistic is a 45% increase year on year as well.
Spotify is now available in 65 countries and territories
Though Spotify lacks far-behind Apple Music in the international availability department, they’ve made positive strides opening up in Israel, Romania, South Africa (a continental first), and Vietnam in 2018 Q1.
Spotify is expanding on its Hulu bundle partnership
Last September, Spotify and Hulu teamed up to launch a joint-premium account bundle available to those on student plans. Last month, they expanded on it to include regular premium users to include an added Hulu Premium account for $12.99 a month. If you’re not a subscriber to either and this deal looks like something you’ll be interested in it’ll be available to new customers this summer.
Spotify will continue to expand on its podcast department
Per their IPO filings, Spotify stated that the would be expanding into video and podcasts in particular. Last quarter, they “entered into partnerships with several major podcast networks and aggregators which more than doubled the size of our catalog compared to Q4 2017.” Expect the catalog to keep growing through the rest of the year.
Spotify is projecting over 200 million monthly active users by year’s end
Per the report, here are their full 2018 goals which have remained unchanged through Q1.
- Total Monthly Active Users (“MAU”): 198-208 million, up 26-32% Y/Y
- Total Premium Subscribers: 92-96 million, up 30-36% Y/Y
- Total Revenue: €4.9-€5.3 billion, up 20-30% Y/Y. This includes a negative impact of approximately €280 million from foreign exchange rates; excluding this impact, up 26-37% Y/Y
- Gross Margin: 23-25%
- Operating loss: €230-€330 million