Spotify, which owns the streaming service of the same name, has released its Q4 2020 report. The authors of the report note that the sales profit exceeded expectations, and the monthly audience of users and paid subscribers has grown significantly.
More precisely, at the end of the quarter, the number of active monthly users (MAU) reached 345 million, up 27% from the year before. The number of paid service subscribers increased by 24%, to 155 million people.
Total revenues were € 2,168 million, up 17% year-on-year (even 24% when adjusting for currency changes). Premium subscription revenue increased to € 1,887 million, or 15% YoY (22% YoY). The largest growth was shown by advertising revenue. It increased by 29% (39% taking into account the exchange rate), to 281 million euros. The gross margin reached 26.5%, beating the forecast.
The report says that one of the growth factors was the launch of the service in Russia and 12 neighboring countries.
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