Daniel Ek, Founder & CEO, Spotify, at The Future of Audiobooks Event with Spotify 2023 on Oct. 3, 2023 in New York City.reported on Tuesday that first quarter revenue jumped 20% and gross profit topped 1 billion euros , returning the now 18-year-oldSpotify reported 3.6 billion euros in first quarter revenue, up from 3.04 billion euros a year ago, and gross profit rose 31% to 1.004 billion euros from 766 million euros , according to filings.
Monthly active users of 615 million for the quarter was up 19% from a year ago and up 2% from the prior quarter but missed the company’s target of 618 million in the quarter.Premium ARPU grew 7% year over year on a constant currency basis. Premium subscribers grew 14% to 239 million, led by growth in the streaming giant’s bundles–Family and Duo plans.Peter Frampton Reacts to Rock Hall of Fame Induction, Reveals Who He Wants to Perform With During the Ceremony