“We believe we have at least five to seven-times growth left in the businesses we are in today – music, podcasting, and paid audio – and we intend to win in those businesses,” Ek said on the potential of the audio market.Īs for future growth in live audio he surmised: “I think it really just comes down to creating compelling content. The positive for Spotify is that its plan to expand from just music to podcasts and live audio is moving ahead. “This is the sort of next billion user opportunity that we are seeing the early inklings of,” he said.

The 38-year old was encouraged by strong consumer demand for his company in new markets. “Some markets are more advanced in recovering, some are still very much in the sort of pandemic landscape and I think that’s going to play out over the course of the year,” chief executive Daniel Ek said in an earnings call. Spotify said Q1 growth in the US, Mexico, Russia and India was offset by lower-than-expected growth in Latin America and Europe. Operating profit showed a loss of €17 million ($26.45 million).Īverage revenue per user in the quarter slipped to €4.12 ($6.41), down 7% from a year ago, as it offered promotional discounts and less subscriber fees as it expanded into 86 new territories during Q1. Spotify shares dropped 8% after the financials were released. Q1 is usually a quieter period, so unsurprisingly Spotify’s revenue actually dropped 1% from Q4 2020 when it was €2.17 billion ($3.37 billion). 34 billion) from €1.85 billion ($2.87 billion) in the same period last year. Revenue increased 16% to €2.15 billion ($3.

In the same financial results in the quarter ending on March 31, the streaming service’s monthly active users (MAUs) reached a total of 356 million, up from 345 million in Q4 2020.

Is spotify free 2020