Spotify Sees 22 Percent Year-Over-Year Increase In Subscribers, 14% Revenue Rise In First Quarter 2023

Up In Q1

SPOTIFY's financial report for first quarter 2023 trumpeted a 22% year-over-year increase in monthly active users to 515 million and a 15% rise in premium subscribers to 210 million while total revenue rose 14% to €3 billion. with premium revenue rising 14% to €2.7 billion. Operating loss widened from €6 million to €156 million, but free cash flow jumped from €22 million to €57 million. The subscriber numbers were above guidance, while the revenue results were slightly below guidance.

Guidance for second quarter 2023 is for the net addition of about 15 million monthly active users to reach the 530 million mark, with 7 million net new premium subscribers to hit 217 million, revenue at €3.2 billion, and operating loss at €129 million.

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