Spotify Q4 2019 Earnings Great Year for Premium, Less So for Ad Supported
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The 20,000 Foot View: 2019 was another strong year for Spotify’s premium business, in which it saw off growing competition to retain its leading global market share. But it was also another year in which Spotify’s ad-supported business did not grow fast enough.
Key Insights
- Spotify finished with million subscribers, up on and adding three million more subscribers than it did in
- Full-year (FY) premium revenue was also up billion, but when churned-out subscribers factored in, monthly average revenue user (ARPU) fell from FY to FY 2019
- Latin America Rest of World contributed slightly to global subscriber growth in compared to in 2018
- Ad-supported user accelerated markedly in 2019, with new users added compared to in 2018
- Spotify finished with million ad-supported monthly average (MAUs), with a reduced paid rate of
- 2019 was breakout year for Rest of with the region increasing its of ad-supported MAUs from in to in 2019, representing of growth
- Premium gross continued steady recovery to in while ad-supported gross margin headed the opposite direction, dropping to
- Churn management one of Spotify’s standout success – continued its long-term improvement 2019, reaching for FY 2019
Companies and brands mentioned in this report: Spotify