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Spotify Earnings Q3 2019 Up on Most Counts

Report by Mark Mulligan
Cover image for Spotify Earnings Q3 2019
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The 20,000 Foot View:             2019 was a quarter of mixed fortunes for Spotify, with its subscriber base showing good, consistent growth, podcasts making a solid early showing, emerging markets demonstrating promise but ad revenue falling short.

Key Insights

  • Spotify hit            subscribers in            2019, up five            on            2019 and in line            expected growth
  • Spotify added            monthly average users (MAUs) in            but grew its free user            significantly faster than paid, adding            ad-supported MAUs
  • Spotify added            million subscribers in North America,            more than it did the            year, reflecting the continued strength            the US streaming market
  • Rest of            is growing faster in free            than paid: Spotify added            million            of World ad-supported MAUs compared                       million subscribers, with the gap            compared to            2018
  • The paid-to-free            was down in both of            predominately emerging market regions, due            free user growth creating a            subscriber acquisition funnel
  • North America            Europe added two million subscribers            reaching            million and            million respectively
  • Premium revenue                       year-on-year (YoY) to reach            million                       2019 while gross margin was            from            to           
  •            2019 was a weak quarter for ad-supported revenue, up just            million on            2019, representing            of all revenue, compared to            one year earlier            million Spotify users streamed podcasts on-platform in            2019, generating            million in revenue
  • Spotify churn            slightly from            in            2019 to            it the second successive quarter            Spotify has recorded its lowest            churn rate
  • MIDiA forecasts            to hit            million subscribers in           

Companies and brands mentioned in this report:   Spotify

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