Spotify Technology (NYSE: SPOT) today reported first quarter financial results for the period ended March 31, 2020.
Total Monthly Active Users (MAUs) grew 31% year-over-year to 286 million. Premium Subscribers at the end of the quarter was 130 million, up 31% year-over-year. Ad-supported MAUs grew 32% year-over-year to 163 million.
Total revenue increased 22% to €1,848 million.
As of March 31, 2020, Spotify has €1.8 billion in liquidity and expects to be free cash flow positive for the year.
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