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Spotify Q1 2022 earnings: Music streaming service hits 422 million monthly users

Spotify says its share of podcast consumption hours reached an all-time high.

Spotify Q1 2022 earnings: Music streaming service hits 422 million monthly users
[Source Images: Nikolas Kokovlis/NurPhoto/Getty; iStock]

Spotify has announced its Q1 2022 earnings, and things are looking up for the company when it comes to users. The company saw monthly active users jump 19% to 422 million year-over-year, and premium subscribers jump 15% to 182 million.

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These are the main highlights of Spotify’s Q1 2022:

  • Monthly Active Users (MAU) grew 19% year-over-year to 422 million at the quarter’s end.
  • Premium Subscribers are 15% year-over-year to 182 million.
  • Ad-supported revenue was up 31% year-over-year to €282 million (about $299 million).
  • Revenue was €2.6 billion (about $2.75 billion), up 24% year-over-year in Q1.

The company also gave an update on its podcast content, which is headlined by heavyweights like Joe Rogan. “At the end of Q1, we had 4.0 million podcasts on the platform (up from 3.6 million at the end of Q4),” the company said in a press release. “Growth in the number of MAUs that engaged with podcast content continued to outstrip total MAU growth, podcast consumption rates grew in the double digits Y/Y, and podcast share of overall consumption hours on our platform reached another all-time high.”

Offering Q2 2022 guidance, Spotify said it expects 428 million MAUs, a number impacted by its close of Russian operations, and 187 million premium subscribers. As for total Q2 revenue, Spotify says it expects it to be €2.80 billion (about $2.96 billion).

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About the author

Michael Grothaus is a novelist, journalist, and former screenwriter. His debut novel EPIPHANY JONES is out now from Orenda Books. You can read more about him at MichaelGrothaus.com

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