Today, Spotify unveiled their Q4 2019 earnings report.
Highlights of the report include;
- Monthly Active Users has increased 31% year over year – now to 271M. 124M being paid subscribers.
- 8% increase in gross profit from Q3, from $441M to $474M
- Over 700K podcast titles available.
- Podcasts hours streamed up 200% YoY
- Introduction of podcast ads.
- Over 16% of MAU’s engage in podcasts.
- Expansion into India.
- Partnering with Obama’s production company.
- Over 500K artists and creators logging into Spotify for Artists.
All in all, Spotify is consistently increasing not just financially but as a business, expanding into new areas. With significant investments into podcasts in 2019, we should see that pay off throughout 2020. We should also see consistent growth with MAU and financials. Spotify is the leader in music streaming and that should remain so for the foreseeable future.
You can see the report in greater detail here.