Spotify subscribers hit 252 million in Q3 2024, a 12% increase year on year, according to its recently released Q3 2024 financial results. Monthly Active Users (MAU) increased 11% to 640 million.
Key financial results in Q3 2024
- Monthly Active Users grew 11% year on year to 640 million with net additions of 14 million which was 1 million ahead of guidance
- Subscribers grew 12% year on year to 252 million. Net additions of 6 million were 1 million ahead of guidance.
- Total Revenue was up 19% year on year to €4 Bn.
- Gross Margin reached 31.1%.
- Operating Income improved to €454 million with expectations that the company will deliver its first full year of Operating Income profitability.
Spotify highlights in Q3 2024
- Launched AI DJ to Spanish-speaking music fans in 18 markets
- Expanded AI Playlist in Beta to the United States, Canada, Ireland and New Zealand (6 markets in total)
- daylist playlist now available to Free and Premium users worldwide and now supported in 14+ languages
- Rolled-out comments for podcasts, bringing interactivity to the industry
- Expanded music video availability to 85 additional markets (97 markets in total)
- Incorporated over 200,000 audiobook titles into its Premium offering in France, Belgium, the Netherlands and Luxembourg (10 markets in total)
- Rolled out comments for podcasts, bringing interactivity into the podcast industry, enabling podcast creators to better connect with and grow their audiences.
- Launched its first-ever on-platform voting feature with Thailand’s top weekly music TV show, allowing global T-Pop fans to vote for their favourite artists and influence who appeared on Thailand Music Countdown.
To view the complete set of financial results for Q3 2024 go here.
