Spotify Exceeds 500 Million Monthly Active Users as of Q1 2023

Spotify has announced that for the first time ever, it has hit and exceeded 500 million monthly active users. As of March 31st, the music streaming service crossed the impressive threshold and saw 515 million users jump into the app and stream their favourite music and podcasts.

Spotify CEO Daniel Ek announced Q1 2023 was Spotify’s strongest quarter since going public in 2018. However, measuring its monthly active users, this past quarter was Spotify’s strongest ever. In fact, Q1 of this year saw a 22 percent increase in monthly active users when compared to the year prior. That same quarter increased by five percent compared to the quarter before it.

Ek also reveals that of the 515 million monthly active users, there are 210 million paid subscribers. Comparing the current stats to last year, Spotify saw a 15-year-over-year increase to the $9.99 monthly subscription service.

In addition, it’s reported by The Verge that Spotify is reporting a net loss of €225 million (roughly $337 million). In Q1 2022, Spotify had a net income of €131 million (around $196 million CAD). However, the net loss is down from Q4 2022’s €270 million (roughly $404 million CAD). There’s no clear reasoning behind Spotify’s loss this past quarter. Though, it’s generally believed that discounted rates on Spotify Premium may be a contributing factor.

In Q1 2023, Spotify also launched its AI DJ for Premium users in Canada and the U.S. The AI-powered guide enables users to listen to curated music with additional commentary provided by a realistic voice. This series of music is constantly rotating. Additionally, Spotify introduced a new mobile UI, refreshing the way users interact with the app.

Other major Q1 2023 milestones include Spotify’s multi-year video partnership with content creator Markiplier. An original podcast series from Louis Theroux was also announced. Plus, NPR and Immediate Media were welcomed into the Spotify Audience Network.