Earnings per share were €0.21, compared to the loss per share of €0.25 in the year-ago period. Meanwhile, average revenue per user (ARPU) was €4.38, above the expected €4.26, but down from last quarter’s €4.40. Revenue rose 24% to reach €2.66 billion ($2.82 billion), above estimates of €2.61 billion. The streamer beat on nearly every metric, with total monthly active users up 19% year-over-year to a record 422 million in the quarter ending March 31, above estimates of 417.1 million. Spotify’s earnings indicate the news headlines around Rogan that dominated in the first quarter didn’t drag its business down. The Spotify-Rogan saga highlights the distinction between publishers and platforms
But app store data at the time indicated rival streaming apps were not getting a boost from this latest PR headache, as Spotify’s app had continued to see millions of weekly downloads - a significantly larger figure than its nearest rivals - even amid the #deletespotify campaign on social media.
Ad-supported users, meanwhile, grew 21% to reach 252 million.Įarlier this year, several prominent musicians, including Neil Young, Joni Mitchell and others, pulled their music from the streamer to protest its relationship with the controversial podcaster Joe Rogan, who was accused of using his platform to spread COVID-19 misinformation. Despite losing 1.5 million users in Russia, Spotify’s premium subscribers grew 15% year-over-year in the first quarter to reach 182 million, largely in line with analyst estimates. Now, Spotify’s first-quarter earnings have confirmed it. We already suspected that the controversy surrounding the Joe Rogan podcast on Spotify was doing little to actually prompt users to leave the streaming service, based on app store data.
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