Advertising revenue reports 75% year-over-year growth: Spotify
Q3 earnings call reports, 20% year-over-year per user base for podcast consumption
Oct 28, 2021 04:25:00 PM | Article | Campaign India Team
The Q3 earnings call for Spotify took place on 27 October. The revenue announcement reported growth in MAU (Monthly Active Users), revenue, gross margin and podcast listenership.
The total MAU's for India grew 19% year-over-year to 381 million in Q3, up from 365 million last quarter. As for advertising, the revenue growth declared was 75% year over year up to €323 million in earnings filed.
Highlights of Spotify's Q3 report:
- 27% year-over-year revenue growth with €2,501 million generated at the top end of Spotify's guidance range
- 19% year-over-year premium subscriber growth reported, up to 172 million earnings filed
- Monthly active users grew 19% year-over-year to 381 million in the quarter
- Gross margin closes at 26.7%, reflecting nearly 200 basis points of year-over-year expansion
- The average revenue per unit of €4.34 earnings filed was up by 4% year-over-year, excluding the impact of foreign exchange
- 20% year-over-year per user stated for podcast MAU's in Q3
Daniel Ek, CEO and founder, Spotify, said, “We had a very strong quarter. The business is doing well and I’m pleased that we continue to deliver across the areas that are fundamental to our growth and long term strategy. Audio is our right to win. While we have been relentless in our pursuit of being the world’s largest audio platform, it’s still early days and we are just getting started.”