Spotify increased its premium membership numbers by 14% in the last year, reaching a total of 205 million paid subscribers. According to the company’s Q4 2022 results, three million of those subscribers joined in the final three months of last year. The number of active monthly users across both paid and free plans also increased by 20%, adding 33 million users in 2022 to reach a total of 489 million.
The results exceeded the company’s projections for both paid subscriptions and monthly active users. Spotify had predicted 202 million paid memberships at the end of 2022, alongside total monthly active users of 479 million. It beat these numbers by 3 million and 10 million respectively, which the company put down to ‘promotional intake and household plans’.
Spotify posted revenue of €3.17 billion, an 18% year-on-year increase in line with company projections. The company’s operating loss of €231 million for Q4 2022 was better than its own predicted loss of €300 million.
Looking towards Q1 2023, Spotify’s guidance outlines 207 million premium subscribers, up 2 million on Q4. It also projects a total of 500 million monthly active users, up 11 million.
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