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  • Writer's pictureMusic Royalties Inc.

Spotify's monthly active users up by 27% in Q4

Spotify Technology S.A. said on Wednesday that the number of its total monthly active users (MAU) in the final quarter of 2020 jumped by 27% on an annual basis to reach 345 million users.

The number of the music streaming service's premium users soared 24% compared to the same period last year, to amount to 155 million. During the same period, the number of ad-supported MAUs climbed to 199 million, after a 30% yearly surge.

The company's revenue reached €2.2 billion, marking a 17% increase year-over-year, while its gross profit amounted to €575 million after a 21% rise. Its net loss was €125 million, or €0.66 per share.

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