{"id":478776,"date":"2022-10-26T16:43:40","date_gmt":"2022-10-26T11:13:40","guid":{"rendered":"https:\/\/www.www.bullfrag.com\/spotify-exceeds-450-million-users-and-195-are-premium-but-shares-collapse\/"},"modified":"2022-10-26T16:43:40","modified_gmt":"2022-10-26T11:13:40","slug":"spotify-exceeds-450-million-users-and-195-are-premium-but-shares-collapse","status":"publish","type":"post","link":"https:\/\/www.bullfrag.com\/spotify-exceeds-450-million-users-and-195-are-premium-but-shares-collapse\/","title":{"rendered":"Spotify exceeds 450 million users and 195 are premium (but shares collapse)"},"content":{"rendered":"
The 456 million users per month that Spotify reached in the third quarter of 2022 is a truly extraordinary number for the most important audio platform in the world.<\/p>\n
That data is a 20 percent higher than a year ago<\/strong> and it is higher than the expectations that the Swedish company itself had set.<\/p>\n However, Spotify shares did not react well to the news and in the premarket<\/em> as of this Wednesday, October 26, they are down (-5 percent).<\/p>\n According to the company, paid subscribers reached 195 million users<\/strong> in the quarter, one million more than the previous orientation of the platform of streaming<\/em> of music.<\/p>\n Also, Spotify said it had a very special strength in Latin America<\/strong>including Mexico, Argentina, Colombia and Brazil, where it outperformed expectations.<\/p>\n Spotify’s total monthly active users (MAUs) grew 20 percent to 456 million, six million above previous guidance, a net addition of 23 million, representing its largest growth in a third quarter to date .<\/p>\n As we explained before, Spotify Premium subscribers reached 195 million, a gain of seven million in the period (about a million more than anticipated) and 13 percent more buying year over year.<\/p>\n “There is a lot of global uncertainty, but our business continues to do very well around the world,” CEO Daniel Ek said in the text that accompanied the financial report published by the company.<\/p>\n \u201cWith a war, a pandemic, inflation, disruption to supply chains, and the threat of a global recession, I am proud of everything we have achieved<\/strong> and that, despite all this, we are where we thought we would be,\u201d he added.<\/p>\n\u201cWe are where we thought we would be\u201d: Spotify CEO<\/h2>\n