Tuesday, 25 April, 2023

Spotify Reports Strong Q1 2023 Earnings with 515 Million Monthly Active Users

Spotify has reported strong earnings for Q1 2023, with 515 million monthly active users on its platform. The company saw a 21% increase in revenue year-over-year, driven by growth in its Premium subscription business. The company's Premium subscribers reached 164 million, up 20% from the previous year. Spotify also reported strong growth in its advertising business, with a 46% increase in ad-supported revenue.