Spotify beat expectations again with Premium subscriber growth of 29% year on year to reach a record 124 million paid users worldwide.
Total MAUs (Monthly Active Users) grew 32% Y/Y to 271 million.
In what is likely a harbinger of more growth ahead, Spotify saw re-accelerated growth across its 3 largest and highest paying regions – Europe, North America, and Latin America – while the “Rest of World” segment remains its fastest-growing.
North America saw the fastest quarterly growth since 4Q’18. “Seeing a re-acceleration in user growth, at our scale, is a strong signal to us of the health of our business,: said the streamer in today’s financial report. “We know, from history, that strong MAU trends are a harbinger of future subscriber and financial growth.”
Podcasts
Spotify’s podcast listing hours were up approximately 200% Y/Y and the streamers is now seeing indications that podcast usage is driving increased overall engagement and retention. “We have seen early indications that our investments in podcasts are having a positive impact on conversion of free to paid users,” said Spotify.
