Spotify has released its first-quarter earnings for 2021. The corporate carried out largely in step with expectations as its customers continued to hear to the service at house throughout our COVID-19 occasions. The most important spotlight of Spotify’s Q1 got here from premium subscriptions, which rose 21% YOY to 158 million. On a quarter-over-quarter foundation that’s nearly 4 million new premiums subscribers, or a 2% enhance Q/Q. Spotify says that premium subscriber progress was led by North American shoppers.
Listed below are the principle highlights of Spotify’s Q1 2021:
- Month-to-month Lively Customers (MAU) grew 24% year-over-year to 356 million on the finish of Q1.
- Advert-Supported MAUs totaled 208 million on the finish of Q1, up 27% year-over-year.
- Premium Subscribers totaled 158 million on the finish of Q1, up 21% year-over-year.
- Whole Q1 income was €2.147 billion (about $2.59 billion), up 16% year-over-year.
- Of that, premium income was €1.931 billion (about $2.3 billion) in Q1, up 21% year-over-year.
Spotify additionally gave an replace on its podcast content material–an space that’s more and more seeing fierce rivalry between themselves and Apple. On the finish of Q1, Spotify had greater than 2.6 million podcasts on their platform. That’s up about 400,000 from final quarter. The corporate additionally famous that the “Joe Rogan Expertise carried out above expectations with respect to new person additions and engagement,” nevertheless it didn’t give any particular metrics for Spotify’s star podcaster. One other tidbit Spotify dropped was that Olivia Rodrigo’s single, drivers license, racked up over 15 million international streams on a single day–January 11. This was a Spotify report for many streams of a single music in a day for a non-holiday music.
Lastly, Spotify provided its Q2 steering. The corporate says in Q2 it expects 366-373 million MAUs and 162-166 million premium subscribers. It additionally expects whole Q2 income to be between €2.16-€2.36 billion (about $2.6-$2.8 billion).