![]() ![]() ![]() The company projected 202 million paid subs (up 7 million sequentially) and total MAUs of 479 million (up 23 million sequentially).Īt the end of Q3, Spotify had 4.7 million podcasts on the platform, up from 4.4 million the previous quarter. On the worse-than-expected loss, shares were down more than 5% in after-hours trading Tuesday.įor Q4, Spotify expects revenue of €3.2 billion and an operating loss of €300 million, which includes €95 million in additional expenses that the company said are due to unfavorable currency exchange rates. Spotify reported a Q3 net loss of €194 million, or €0.99 per share, higher than analyst expectations of a loss of €0.85 per share, according to Refinitiv. ![]() However, Spotify’s gross margin in Q3 came in below expectations at 24.7%, which the company said was “affected by an accrual adjustment from an anticipated renewal of a large publishing contract outside the U.S.,” along with “some softness in advertising and currency fluctuations.” Spotify reported an operating loss of €228 million, which in addition to other factors the company attributed to higher payroll costs with the expansion of its global ad sales team platform investments and the effect of recent acquisitions including Podsights, Findaway, Sonantic, Chartable, Whooshkaa and Heardle. Ad-supported revenue grew 19% to €385 million, reflecting double-digit growth across all regions with the exception of Europe where “we saw the impact of challenging regional economic conditions,” Spotify said. Premium revenue grew 22% to €2.7 billion. Total revenue was €3.04 billion, slightly ahead of guidance, representing 21% year-over-year growth. “I feel good about this upcoming year, and what it means about pricing for our service.” “t’s something we will with our label partners,” he said. subscription plans, following increases by Apple Music and YouTube Premium. On the earnings call, Ek said Spotify is looking at raising prices on its U.S. ![]()
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