Spotify reported a surge in paid subscribers to 268 million in Q1, marking an 11% annual increase and surpassing its own expectations. The platform reached 675 million monthly active users, a 12% increase year-over-year, facilitated by growth primarily in Latin America and other global regions. Revenue climbed to â¬4.2 billion, a 16% rise, while operating income hit a record â¬477 million. Despite some challenges in ad pricing, Spotify continues to expand into video podcasts and audiobooks, gearing up for further user acquisition in upcoming quarters with optimistic growth forecasts.
Spotify's first quarter saw a solid growth in paid subscribers and total monthly active users, driven by expansion in various global markets.
Revenue grew by 16% year-over-year, reaching â¬4.2 billion, reflective of strong demand across music and podcasts despite some pricing pressures.
With 330,000 video podcast shows and 270 million users engaged, Spotify's investment in video content is a significant part of its growth strategy.
Looking ahead, Spotify aims to add 11 million more monthly active users in the next quarter, indicating continued growth and optimism for the future.
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