Spotify reaches 100 million Premium subscribers according to the streamer’s 2019 Quarter 1 results published on the 29th April 2019 and available in full here. In addition to its 32% year on year growth in Premium subscribers it recorded a growth of 26% in monthly active users (MAUs) during the year to 217 million users.
Results for the quarter outperformed expectations with its Family Plan, Google Home Mini and Spotify Premium + Hulu promotions driving the better than expected growth.
Total revenue for the quarter was €1,511 million up 33% year on year. Premium revenue of €1,385 million in Q1 grew 34% year on year giving an average revenue per user of €4.71 and ad-supported revenue was €126 million up 24% year on year.
Spotify saw a small incremental benefit from podcasts during Q1 following its acquisitions of Gimlet Media and Anchor in February and the successful rollout of Spotify owned and exclusive content (The Joe Budden Podcast, Amy Schumer Presents: 3 Girls, 1 Keith, Dope Labs, etc.). The company expects revenue from podcasts to accelerate through 2019.
The quarter posted a €47 million loss and forecasts for the year predict continuing losses mainly due to provisions for continuing investments.
