As part of its quarterly earnings report, Spotify said that it now has over 406 million monthly average users (MAUs), up 18 percent year-over-year (YOY).
The firm reported an operating loss of $69 million on revenues of $2.7 billion for the quarter ending December 31, 2021.
“We ended 2021 with strong Q4 results, led by outperformance in MAUs, continued momentum in our subscription business, and meaningful advertising results,” a Spotify letter to shareholders explains. “Looking back on not just this quarter, but the past few years, we are increasingly excited about the investments we have made and see meaningful progress within a number of our initiatives. As we move into 2022 and beyond, the opportunities in front of us are large and we see a tremendous amount of greenfield on the horizon.”
Spotify grew its premium subscriber base 16 percent YOY to 180 million in the fourth quarter, with advertising-supported subscribers up 40 percent to 236 million. Premium subscribers were, of course, far more lucrative and they contributed $2.3 billion in revenues compared to $394 million for ad-supported.
The firm also noted that it experienced double-digit YOY growth in all regions globally, led by strong results in India, Indonesia, and Latin America.