• Tue. Mar 28th, 2023

Spotify Reports Strong 4Q 2021 Results, Hits 406m Monthly Active Users

ByYinka Okeowo

Feb 3, 2022

Spotify has reported strong fourth quarter 2021 results led by outperformance in Monthly Active Users (MAUs) and continued momentum in subscriber growth and business.

Spotify Q4 2021

Q4 Highlights:

  • MAUs, Revenue, Operating Income and Gross Margin performed better than expected.
  • Subscriber growth was inline, ARPU growth increased Y/Y, and our advertising business reached a record 15% of Total Revenue in Q4.

Spotify Q4 by the Numbers:

Spotify Premium Subscribers grew 16% Y/Y to 180 million in the quarter, led by strong promotional campaign performance.

MAUs grew 18% Y/Y to 406 million in the quarter and near the top end of our guidance range. We saw double digit Y/Y growth in all regions with particular strength in the Rest of World, which was led by strong results in India and Indonesia.

Wrapped: Collectively, 120 million MAUs engaged with Wrapped content in Q4 (vs. 93 million last year, an increase of 29% Y/Y). 


Spotify ‘s Revenue grew 24% Y/Y in Q4 (or 20% Y/Y on a constant currency basis) to €2,689 million and was above the top end of our guidance range due to significant strength in advertising and favorable FX movements.

Gross Margin finished at 26.5% in Q4, above the top end of our guidance range and flat versus the prior year period.

ARPU of €4.40 in Q4 was up 3% Y/Y (or up 1% Y/Y constant currency). Excluding the impact of FX, we saw a benefit to ARPU primarily from our price increases. 

Podcast MAU ended the year with a double digit increase relative to Q3. Among MAUs that engaged with podcasts in Q4, consumption trends remained strong (up 20% Y/Y on a per user basis) and podcast share of overall consumption hours on our platform reached another all-time high.

Read Details HERE.



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