Spotify’s growth continues which closes the first quarter of 2022 with a record growth. Despite the problems encountered in recent months, such as the Joe Rogan case and the exit from the Russian market, the streaming platform shows no signs of reducing its growth program. Here are some data revealed by the company:
Spotify continues its record growth
The first quarter of 2022 for Spotify closes with a new record of monthly active users. The platform reached a total of 422 million usersrecording a growth of + 19% on an annual basis. It should be noted that compared to the fourth quarter of 2021, however, the growth in the number of users was 4%. Spotify surpassed analysts’ forecasts in terms of total active users by around 4 million. As for the using Premiumon the other hand, there is a total of 182 million users with a growth of +15% compared to the first quarter of last year and + 1% (2 million units) compared to the fourth quarter of 2022. For the second quarter, the platform expects to reach 428 million active users and a total of 187 million Premium subscriptions .
Revenues grow compared to last year
Note that 39% of Premium users are in Europe. Regarding revenues, Spotify recorded a total of 2.66 billion euros collected in the quarter with a record growth of + 24% compared to the first quarter of last year but with a decrease of -1% compared to the data of the fourth quarter of 2021.