In a nutshell: Spotify for the second quarter of 2021 turned in outcomes that had been higher than anticipated in most main classes together with subscriber progress, income, gross margin and working revenue. The one exception was month-to-month energetic customers (MAUs), the place the streaming large fell wanting its steerage vary.
For the three-month interval ending June 30, 2021, Spotify generated income of two.33 billion euro ($2.75 billion), gross margin of 28.four % and an working revenue of $14.14 million.
Spotify completed the quarter with 365 million whole MAUs. That’s a rise of 9 million customers in comparison with the earlier quarter however extra importantly, seven million of these are premium (paying) subscribers. In whole, Spotify now has 165 million premium subscribers and 210 million ad-supported customers.
The Swedish streaming service mentioned its licensing deal for The Joe Rogan Expertise podcast continues to carry out above expectations. Phrases of that settlement weren’t made public however in accordance with rumors, it was valued north of $100 million.
All mentioned and achieved, Spotify got here away with a lack of $20 million euro ($23.57 million).
Looking forward to the third quarter, the streaming specialist is anticipating to complete with 377 million to 382 million whole MAUs and anyplace between 170 million and 174 million whole premium subscribers.
Spotify shares are down greater than 9 % on the information and are presently buying and selling at $215.79.