The variety of folks paying for Spotify Premium rose three % to 226 million on a quarterly foundation because the streaming service introduced price increases across the US and several other global markets. Spotify’s month-to-month lively customers (MAUs) additionally rose to 574 million as of September thirtieth, a 4 % enhance from final quarter. Each rises have been barely above Spotify’s forecast.
Evaluating efficiency yr over yr, Premium subscribers have been up 16 % whereas MAUs have been up 26 %. Spotify says the online progress in month-to-month lively customers was the second largest third-quarter enhance in its historical past.
Spotify’s newest subscriber figures got here as a part of right this moment’s earnings report, which covers the three months ending September thirtieth. Within the midst of the quarter in late July, the corporate announced price increases — notable for being Spotify’s first within the US since launching there over a decade in the past. It noticed the value of an ordinary Spotify Premium subscription rise $1 to $10.99. Different markets and subscription plans like Duo, Household, and Pupil additionally noticed will increase.
Total, Spotify reported a revenue of €65 million (round $69 million) for the latest quarter, versus a €166 million ($177 million) loss the yr earlier. Working earnings was €32 million (round $34 million), versus an working lack of €228 million (round $243 million) in the identical quarter the earlier yr. Spotify has incessantly posted quarterly losses because it’s historically prioritized progress over quarterly income.