Spotify misses on revenue in first earnings report with 170M users

In Spotify’s first ever earnings report, the streaming music came up a little short, pulling in $1.36 billion revenue in Q1 2018. That’s compared to Wall Street’s estimates of $1.4 billion in revenue and an adjusted EPS loss of $0.34. Spotify hit 170 million monthly active users, up 6.9 percent from 159 million in Q4 2017 and 99 million ad-supported users. It also hit 75 million Premium Subscribers, up 30 percent year-over-year, and 75 million paid subscribers, up 5.6 percent from 71 million in Q4 and up 45 percent YoY.

Interestingly, the MAU count indicates that 4 million of Spotify’s 75 million subscribers pay but don’t listen. Spotify confirmed as much. For reference, Apple Music has roughly 40 million subscribers.

 

Spotify’s results were in line with the…

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