The company reported a net loss of EUR209 million, or
EUR1.14 per share, compared to a net income of EUR442 million, or EUR0.36 per
share, in the prior-year quarter.
Total MAUs grew 31% year-over-year to 271 million,
outperforming the high end of the company’s guidance. Spotify ended the
year with 124 million premium subscribers globally, which was up 29%
year-over-year and ahead of forecast.
In the premium business, average revenue per user fell 5% year-over-year to EUR4.65, mainly due to the extension of the free trial period across the entire product suite.
Also see: Spotify Q4 2019 Earnings Preview
During the quarter, Spotify saw significant growth in podcast
hours streamed and the company is seeing clear signs that podcast usage is
driving overall engagement and retention. Podcast hours streamed rose around
200% year-over-year during the quarter.
For the first quarter of 2020, total revenue is expected to
be EUR1.71 billion to EUR1.91 billion. Total MAUs are expected to be 279-289
million while total premium subscribers are estimated to be 126-131 million.
For the full year of 2020, revenue is expected to be EUR8.08-8.48 billion. Total MAUs are projected to be 328-348 million while total premium subscribers are expected to be 143-153 million.
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