Spotify subscribers hit 236 million in Q4 2023, a 15% increase year on year, according to its recently released Q4 2023 financial results. Monthly Active Users (MAU) increased 23% to 602 million.
Key financial results in Q4 2023
- Monthly Active Users grew 23% year on year to 602 million and 1 million ahead of guidance. Net additions of 28 million represented the second largest Q4 net addition performance in our history.
- Subscribers grew 15% year on year to 236 million. Net additions were 1 million ahead of guidance. Q4 net additions of 10 million contributed to a record full year of net additions of 31 million.
- Total Revenue grew 16% year on year to €3.7 billion.
- Gross Margin finished at 26.7%.
- Operating Loss was (€75) million for the quarter, which was better than forecast. Excluding one time charges, Spotify generated €68 million in adjusted Operating Profit, which is more than double the third quarter as the business continues momentum towards sustainable growth and profitability.
Key highlights in Q4 2023
- Rolled out the 9th annual Wrapped campaign, drawing in more than 225 million MAU. User engagement grew more than 40% year on year across 170 countries.
- Redesign of the TV experience
- 200,000 audiobook titles were added to Spotify Premium plans in the US
- Updated the TikTok integration to save songs from videos to Spotify playlists.
To view the complete set of financial results for Q4 2023 go here.
