In a nutshell: Spotify for the 2nd quarter of 2021 turned in results that were better than anticipated in most predominant categories including subscriber exclaim, earnings, sinful margin and running earnings. The one exception used to be monthly active customers (MAUs), the put the streaming huge fell searching its steerage vary.
For the three-month duration ending June 30, 2021, Spotify generated earnings of 2.33 billion euro ($2.75 billion), sinful margin of 28.4 percent and an running earnings of $14.14 million.
Spotify performed the quarter with 365 million entire MAUs. That’s an elevate of 9 million customers when put next with the previous quarter however more importantly, seven million of those are premium (paying) subscribers. In entire, Spotify now has 165 million premium subscribers and 210 million ad-supported customers.
The Swedish streaming carrier mentioned its licensing deal for The Joe Rogan Skills podcast continues to create above expectations. Terms of that agreement weren’t made public however in preserving with rumors, it used to be valued north of $100 million.
All mentioned and performed, Spotify came away with a lack of $20 million euro ($23.57 million).
Taking a explore forward to the third quarter, the streaming specialist is waiting for to use out with 377 million to 382 million entire MAUs and any place between 170 million and 174 million entire premium subscribers.
Spotify shares are down more than 9 percent on the news and are at veil procuring and selling at $215.79.