Spotify unveiled its results for the first quarter of 2022 on April 27. While streaming platforms like Netflix have unscrewed, the Swedish application shows that it has it in its stomach despite the end of the pandemic, or the war in Ukraine. .
Spotify still number 1
Spotify’s user base still isn’t eroding. Music streaming app counts 422 million monthly active users at the end of the first quarter of 2022. This is growth of 19% in one year, and just over 3% since December. However, the company deplores the loss of 1,500,000 subscribers based in Russia, to whom it has cut off access to its service. She expects to lose another 600,000 this month.
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Of these 422 million users, 182 million subscribed to a premium subscription, or 43% of the total. The rest is made up of users accessing Spotify in exchange for advertisements, they are 252 million worldwide, up 21% over one year.
This great growth in active users is due, according to Spotify, to the various changes it has made to its application, in particular the display of lyrics. Also, a technical problem that occurred in March had the effect of disconnecting a large number of users. Some of these accounts then inactive, 3 million exactly, by reconnecting, were taken into account in the calculations of the application.
accounts in the green
While non-subscription accounts make up more than half of users, they contribute a tiny fraction of Spotify’s revenue, just over 10%. Of the 2.6 billion euros in turnover, the application earns €2.37 billion thanks to premium subscribers.
Profits also increased compared to the first quarter of 2021 to reach 155 million euros. They should increase in the second quarter of the year. The Swedish company hopes to announce some for 197 M€.
To achieve this, Spotify can obviously count on maintaining its subscriber growth, but also on a partnership recently concluded with Google. The Mountain View company should allow it to offer other means of payment to its users on Android. If this is only a pilot project, Spotify seems to be banking on a worldwide launch this year. What save him a number of commissions, and therefore increase his profits, without too much effort.