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Spotify

Spotify Grew 19% In 3 Months To 433M Users, Revenue Up 23%

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(Hypebot) — Spotify reported strong second-quarter user and earnings growth, beating analyst expectations. Monthly active users grew 19% to 433 million in Q2, a full 5 million users above guidance.

It was Spotify’s largest-ever Q2 growth and came from gains in Europe, “Gen Z strength in Latin America,” and global marketing campaigns outside of core territories.

Spotify paid Premium Subscribers grew 14% to 188 million, a gain of 6 million and 1 million above guidance.

Total revenue was up 23% to $2.91 billion. Spotify reported a net loss of $127 million for the period, versus a net loss of $20.3 million a year prior.

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