Spotify hits 306 million subscribers and expects 316 million by year end
Spotify's third-quarter results showed 306 million paying subscribers, representing 9% annual growth and a 6 million increase during the quarter. Monthly active users grew 11% year-over-year to 788 million. Revenue expanded 16% to €4.97 billion, or 14% at constant exchange rates. The company provided guidance of 316 million subscribers by the end of the year.
Key points
- 306M paying subscribers with 9% YoY growth; +6M in Q3
- Monthly active users grew 11% to 788M
- Revenue grew 16% to €4.97bn; guidance: 316M subscribers by year-end
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