Spotify Q4 2018 Earnings
Strong Subscriber Growth With a Hint of Profitability but Long-Term ARPU Deflation

Spotify finished 2018 strongly, over performing in both subscriber and ad-supported MAU additions. This was accompanied by Spotify’s first ever profitable quarter and two major podcast acquisitions early in 2019, hinting at a positive year ahead. However, at the same time, premium ARPU continues a long-term decline.