“Some markets are more advanced in recovering, some are still very much in the sort of pandemic landscape and I think that’s going to play out over the course of the year,” chief executive Daniel Ek said in an earnings call. Spotify said Q1 growth in the US, Mexico, Russia and India was offset by lower-than-expected growth in Latin America and Europe.
Operating profit showed a loss of €17 million ($26.45 million).Īverage revenue per user in the quarter slipped to €4.12 ($6.41), down 7% from a year ago, as it offered promotional discounts and less subscriber fees as it expanded into 86 new territories during Q1. Spotify shares dropped 8% after the financials were released. Q1 is usually a quieter period, so unsurprisingly Spotify’s revenue actually dropped 1% from Q4 2020 when it was €2.17 billion ($3.37 billion). 34 billion) from €1.85 billion ($2.87 billion) in the same period last year. Revenue increased 16% to €2.15 billion ($3.
In the same financial results in the quarter ending on March 31, the streaming service’s monthly active users (MAUs) reached a total of 356 million, up from 345 million in Q4 2020.
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