7/28, 12:02 PM (Source: TeleTrader)
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Spotify's monthly active users up 22% YoY to 365M

Spotify Technology S.A. reported on Wednesday that its number of total monthly active users (MAU) for the second quarter of the year increased 22% year-over-year reaching 365 million, but falling below the company's projections.

For the entire quarter, a total of 9 million MAUs were added, driving double-digit yearly growth in all regions. When it comes to premium subscribers, 7 million premium subscribers were added which constitutes a per annum growth of 20%, bringing the total number of premium subscribers to 165 million.

Total revenue grew 23% when compared to the same period last year to €2.33 billion. Premium revenue increased by 17% year-over-year to €2.05 billion, while Ad-supported revenue skyrocketed to €275 million for a yearly gain of 110%.

Spotify shares fell 1.24% in the premarket trade following the release of the report.

Breaking the News / OL