Spotify subscribers hit 155 million in Q4 2020, a 24% increase year on year, according to its recently released Q4 2020 financial results. Monthly Active Users (MAU) increased 27% to 345 million. Revenue of €2,168 million was up 17% year on year in the quarter despite the impact of the COVID-19 pandemic. Despite this growth the streamer continues to make a loss (€125 million) and forecasts continuing losses despite predicted increases in streaming subscriptions and revenue.
Innovations introduced in the fourth quarter of this year included:
- the get up – new daily morning show that combines news, talk and personalised music.
- Caso 63 – Spotify’s first original in Chile and a smash hit, one of the biggest fiction shows launched on the platform
- ‘Tokyo Super Hits Live 2020’ Virtual Concert – Tokyo Super Hits! Playlist paved the way for J-pop and this was Spotify’s first virtual live-streamed concert from Japan for fans around the world.
- Partnering with The Duke and Duchess of Sussex’s Archewell Audio – an exclusive multi-year partnership to produce podcasts and shows.
- Megaphone acquisition – a leading platform for enterprise podcast hosting and monetization
- Spotify Weekly Music Charts
- Customised Playlist Covers and descriptions on mobile so that users can now customise their homemade playlists.
Spotify’s forecast for Q1 2021
- Total MAUs: 354-365 million
- Total Premium Subscribers: 155-158 million
- Total Revenue: €1.99-€2.19 billion
- Operating Loss: €78-€28 million
To view the complete set of financial results for Q4 2020 go here.
