Spotify Records 406 Million Monthly Active Users, Makes €2,689 Million

Spotify global Premium Subscriber base grew to 180 million in Q4 2021 (ended December 31), according to the company’s new financial results published today (February 2).

That was up by 8 million subscribers (5%) on the 172 million that the company counted at the end of the prior quarter (Q3 2021), and up by 25 million (16%) year-on-year.

The company’s total global Monthly Active Users (MAUs), meanwhile, grew 18% year-on-year to 406 million in Q4 2021 and by 7% compared to the previous quarter (Q3) when the platform counted 381 million MAUs.

According to the organization, MAUs, Revenue, Operating Income and Gross Margin performed better than expected.

The Subscriber growth was inline, ARPU growth increased Y/Y, and our advertising business reached a record 15% of Total Revenue in Q4.

Collectively, 120 million MAUs engaged with Wrapped content in Q4 (vs. 93 million last year, an increase of 29% Y/Y).

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Revenue grew 24% Y/Y in Q4 (or 20% Y/Y on a constant currency basis) to €2,689 million and was above the top end of our guidance range due to significant strength in advertising and favorable FX movements.

Gross Margin finished at 26.5% in Q4, above the top end of our guidance range and flat versus the prior year period.

ARPU of €4.40 in Q4 was up 3% Y/Y (or up 1% Y/Y constant currency). Excluding the impact of FX, we saw a benefit to ARPU primarily from our price increases.

Podcast MAU ended the year with a double digit increase relative to Q3. Among MAUs that engaged with podcasts in Q4, consumption trends remained strong (up 20% Y/Y on a per user basis) and podcast share of overall consumption hours on our platform reached another all-time high.