Spotify has announced its financial results for Q4 of 2022, the company revealed that it had also increased its monthly active users to 489 million.
Spotify also increased its paid subscribers in Q4 of 2022 to 205 million, and it saw an 18% increade in revenue year on year.
We ended 2022 with strong Q4 performance as nearly all of our KPIs surpassed guidance. MAU net additions reached a quarterly record-high of 33 million in Q4, 10 million above guidance. Subscriber growth also materially outperformed, exceeding guidance by 3 million net additions. Revenue growth, excluding the impact of changes in FX, was ahead of expectations. Gross Margin exceeded guidance by 80 bps due primarily to lower investment spending and broad-based music favorability. As expected, our Free Cash Flow was negative in the quarter; however, full year Free Cash Flow remained positive and we expect this trend to continue moving forward on a full year basis.
Looking back on 2022 in its entirety, we are pleased with our overall results. Each year presents certain challenges and opportunities and, over the past 12 months, we largely delivered on our internal goals and we are excited about the momentum we are building heading into 2023.
You can find out more details about the Spotify financial results over at the company’s website at the link below.
Source Spotify
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