Spotify subscribers hit 180 million in Q4 2021, a 16% increase year on year, according to its recently released Q4 2021 financial results. Monthly Active Users (MAU) increased 18% to 406 million. Revenue of €2,689 million was up 24% 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 €394 million up 40% from a year before. The company posted a profit of €712 million for the quarter but forecasts a small loss in the next quarter due to foreign exchange rate movements and the ongoing effects of the pandemic.
Innovations introduced in the fourth quarter of this year included:
- Spotify agreed to acquire Findaway, a global leader in digital audiobook distribution
- Launched in six new markets (Venezuela, Libya, Iraq, Tajikistan, Republic of the Congo and the Democratic Republic of the Congo) making a total of 184 countries worldwide
- 2021 Wrapped which was experienced by 120 million users – a 31% increase year on year
- Launched Lyrics
- Expanded the limited US release of Car Thing – a smart player offering music, news, entertainment and talk
- Introduced Spotify Greenroom shows, and a feature that lets everyone listen live, no login required
- Created the Netflix Hub offering access to official playlists, soundtrack albums and podcasts
- Bad Robot Audio partnership to develop and produce original content with filmmaker J.J. Abrams
- Shopify integration to allow artists to create store fronts to sell merchandise
- Spotify for Artists became available in 16 new languages
- Video podcasts were rolled out
- Podcast Star Ratings were introduced to enable listeners to show their appreciation for a podcast they are enjoying
Spotify’s forecast for Q1 2022
- Total MAUs: 418 million
- Total Premium Subscribers: 183 million
- Total Revenue: €2.6 Bn
- Operating Loss: €67 million
To view the complete set of financial results for Q4 2021 go here.
