The number of people paying for Spotify Premium increased by 3%, reaching 226 million paying users. This translates to more people paying and a slightly higher subscription fee. It’s all good news for Spotify.
If we compare the year-over-year performance, Premium subscribers increased by 16%, while MAU increased by 26%. Spotify states that the net growth of monthly active users was the second-largest increase in the third quarter in its history.
The latest Spotify subscriber figures have been disclosed as part of today’s earnings report, covering the three months ending on September 30th.
The standard subscription price for Spotify Premium increased by one dollar, up to 10.99 dollars. Other markets and subscription plans like Duo, Family, and Student also experienced increases.
Overall, Spotify reported a profit of 65 million euros in the last quarter, compared to the losses of 166 million euros from the previous year. Operating income was 32 million euros, compared to an operating loss of 228 million euros in the same quarter of the previous year.
Spotify has frequently reported quarterly losses, as it has traditionally prioritized growth over quarterly profits.
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