The world’s largest streaming music service has posted its Q3 2018 earnings in which it revealed results that were largely in line with analyst expectations. Here are the main highlights:
- Monthly Active Users (MAU) grew 28% year-over-year to 191 million at the end of Q3.
- Ad-Supported MAUs totaled 109 million at the end of Q3, up 20% year-over-year.
- Premium Subscribers totaled 87 million at the end of Q3, up 40% year-over-year.
- Total Q3 revenue was €1,352 million ($1.54 billion), up 31% year-over-year.
- Premium revenue was €1,210 million ($1.37 billion) in Q3, up 31% year-over-year.
- Average revenue per user (ARPU) was €4.73 in Q3–a 6% decline year-over-year.
All in all it wasn’t a bad quarter for Spotify, especially in light of increased competition mainly from Apple Music, which still trails the company’s service. It will be interesting to see if Apple reveals any outstanding metrics about its Apple Music growth in the quarter just ended. Apple will hold their quarterly conference call after the close of the bell today.