Spotify Reports First Quarter 2024 Earnings — Spotify

• Monthly Active Users grew 19% Y/Y to 615 million.
• Subscribers increased 14% Y/Y to 239 million.
• Total Revenue was up 20% Y/Y to €3.6 billion.
• Gross Margin reached 27.6%.
• Operating Income improved to €168 million.

"We've talked about 2024 as the year of monetization and we're delivering on that ambition," said Spotify co-founder and CEO Daniel Ek. "Now as we've shifted to focus on strong revenue growth and margin expansion, we see a clear opportunity to ensure we are also continuing to grow the top of our funnel. I feel good about the changes we are implementing and remain very confident in our ability to reach the ambitious plans we've outlined."

Interested in hearing more? Click here to review the full earnings release, and listen to the webcast Q&A on our Investor Relations site here.