Number of active monthly users of the platform reached 551 million, growth of 27% compared to 2022
Spotify posted a loss of €302 million in Q2 2023 compared to the same period last year, when it posted a loss of €125 million. The data was released by the streaming platform on Tuesday (July 25, 2023). Here is the full text (3 MB, in English).
Annual revenue increased by 11% over the period, raising €3.2 billion. Income from platform subscribers increased by 11% in the annual comparison and stood at €2.7 billion. The company’s advertising revenue grew 12% in the 2nd quarter of 2023 compared to the same period of 2022, totaling €404 million.
Spotify also recorded 551 million monthly active users in Q2. The data represents an increase of 27% compared to the same period in 2022, which had 433 million active users.
Of the total users, 220 million are premium subscribers and 343 million have access to the platform with ads. The results represent, respectively, an increase of 17% and 34% compared to the same period in 2022.
For the 3rd quarter of 2023, the streaming platform expects to register €3.3 billion in revenue. The company also expects total monthly active users to reach 572 million, with 224 million premium subscribers.