Spotify’s latest quarterly results show big gains in users–and an operating profit.

October 24, 2023 Alan Cross 0 Comments

Spotify has some numbers for the third quarter of 2023, the period ending September 30. Here’s the topline info:

Spotify now has 574 monthly active users. That’s up 26% over the same time last year.
226 million of those users pay for the service. That’s up by 16%.
Between Q2 and Q3, Spotify added 23 million active users and six million subscribers.
Revenue was up 11% to US$3.57 billion.
AND THEY MADE A PROFIT! €32 million. Compare that to a lost of €228 million last year.
Overall, they had a net profit of €65 million, which is a far cry from the net loss of €302 million last year.
The company plans to have 601 million monthly active users and 235 million subscribers by the end of the year.

More details here.

Alan Cross

is an internationally known broadcaster, interviewer, writer, consultant, blogger and speaker. In his 40+ years in the music business, Alan has interviewed the biggest names in rock, from David Bowie and U2 to Pearl Jam and the Foo Fighters. He’s also known as a musicologist and documentarian through programs like The Ongoing History of New Music.

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