Monthly active users at Spotify rose 11 percent year-over-year to reach 640 million in the third quarter, while total paid subscribers increased 12 percent to 252 million, with both beating the company’s guidance by 1 million.
Total revenue was up 19 percent to reach €4 billion, in line with the company’s expectations. Operating income improved to €454 million, thanks to gross margin strength and lower personnel related and marketing costs, which is a record high for the company, and puts Spotify on the track to reach its first full year of operating income profitability.
Källa: Spotify Hits 252M Premium Subscribers, On Track For First Full Year of Profitability