Strong Spotify User Growth Is Music To Investors’ Ears

Spotify paid subscribers (YoY growth):
1) 2017-Q2 – 59M
2) 2018-Q2 – 83M (↑ 41%)
3) 2019-Q2 – 108M (↑ 30%)
4) 2020-Q2 – 138M (↑ 28%)

Spotify subscription revenue (YoY growth):
1) 2017-Q2 – $904M
2) 2018-Q2 – $1.2B (↑ 27%)
3) 2019-Q2 – $1.5B (↑ 31%)
4) 2020-Q2 – $1.8B (↑ 17%)

Big deal: Spotify is now operating in 92 countries after launching in Russia last month.

Spotify ad-supported users (YoY growth):
1) 2017-Q2 – 83M
2) 2018-Q2 – 101M (↑ 22%)
3) 2019-Q2 – 129M (↑ 28%)
4) 2020-Q2 – 170M (↑ 32%)

Spotify revenue per ad-supported user (YoY growth):
1) 2017-Q2 – $1.24
2) 2018-Q2 – $1.22 (↓ 2%)
3) 2019-Q2 – $1.28 (↑ 5%)
4) 2020-Q2 – $0.77 (↓ 40%)

Spotify share of total revenue from advertising:
1) 2017-Q2 – 10%
2) 2018-Q2 – 10%
3) 2019-Q2 – 10%
4) 2020-Q2 – 7%

More #1: The Walkman, Forty Years On

More #2: Spotify’s Daniel Ek Talks Covid-19, Universal Deal, Launching in Russia and Moving Ahead

More #3: Spotify and the reimagined audio walled garden

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