Spotify subscribers hit 172 million in Q3 2021, a 19% increase year on year, according to its recently released Q3 2021 financial results. Monthly Active Users (MAU) increased 19%% to 381 million. Revenue of €2,501 million was up 27% year on year in the quarter despite the impact of the COVID-19 pandemic. The streamer also showed strong growth in its advertising revenue of €323 million up 75% from a year before. The company posted a profit of €668 million for the quarter but expects to dip into loss again next quarter due to foreign exchange rate movements.
Innovations introduced in the third quarter of this year included:
- Spotify is now the #1 podcast platform US listeners use the most, according to Edison Research and Spotify’s own internal data.
- Spotify now available to even more users and creators in the Caribbean.
- Podcasts launched in Russia, Egypt and Saudi Arabia
- What’s New feed which gathers all the new releases from the artists and shows you follow on Spotify.
- Enhance, feature for Spotify Premium users to add personalised recommendations to their playlists.
- Music + Talk show format expands to 15 more markets.
Spotify’s forecast for Q4 2021
- Total MAUs: 400-407 million
- Total Premium Subscribers: 177-181 million
- Total Revenue: €2.54-€2.68 billion
- Operating Loss: €152-€72 million
To view the complete set of financial results for Q3 2021 go here.
