Spotify Now Has 602 Million Active Users, 236 Million Paid Subscribers

As part of its latest quarterly earnings report, Spotify reported that it now has 602 million active users and 236 million paying subscribers. Those numbers are up 23 percent and 15 percent, respectively, year-over-year (YOY).

Spotify posted an operating loss of €75 million, which was better than expected, on revenues of €3.7 billion in the quarter ending December 31. Revenues were up 16 percent YOY. For the full year, Spotify posted a net loss of €446 million on revenues of €13.2 billion.

“The business delivered strong results in Q4, as all of our [key performance indicators] met or exceeded guidance,” the Spotify announcement explains. “With revenue and profitability trends both inflecting favorably heading into 2024, we view the business as well positioned to deliver improving growth and profitability.”

Spotify’s monthly active user count rose by 28 million users in the quarter and 23 percent YOY to 602 million, as noted, better than expected. Paid subscribers grew by 10 million users in the quarter and 15 percent YOY to 236 million. Spotify added a record 31 million new paid subscribers in 2023.

€3.17 billion of Spotify’s revenues, or 86 percent, in the quarter came from its paid subscribers, while ad-supported users contributed just €510 million in revenues. Put another way, 38 percent of its users deliver 86 percent of its revenues, while the other 62 percent deliver a bit under 14 percent of its revenues.