In its latest quarterly report, Spotify reports an unexpectedly large growth in the number of users during the first quarter of 2023. The number of active users per month increased by 22 percent to 515 million, and the number of those who pay for a subscription increased by 15 percent to 210 million.
Revenue is now up to 3 billion euros, which is 14 percent more than the previous year, but it was slightly lower than the company’s forecast. Analysts’ average forecast was about 500 million active users and 207 million paying subscribers. At the same time, Spotify made an operating loss of 156 million euros, which is a deterioration compared to last year when it went minus 6 million euros.