Spotify reported a profit of $69 million in Q3, beating expectations. The company's total users and gross margins also exceeded expectations. This is Spotify's first quarterly profit since 2021. The company added 6 million premium subscribers in Q3, bringing the total to 226 million. Spotify's share price jumped almost 10% following the earnings announcement. The company is reportedly making changes to its royalty model.
Spotify looks set to overhaul its royalty model next year https://t.co/PemGaUcZMt https://t.co/VuAzhKzhnk
Spotify is reportedly making major changes to its royalty model https://t.co/E0xue08sOu
Spotify is reportedly plotting changes to its royalties model, including a new requirement for a song to hit a minimum number of streams in order for an artist to receive a payout. Read more 🔗 : https://t.co/3uR1A2nFCi
Sources: Spotify plans major changes to its royalty model in Q1 2024, including a threshold of minimum annual streams before a track starts generating royalties (Tim Ingham / Music Business Worldwide) https://t.co/xvIM7j3aRs https://t.co/OaXmgKF6xG
Spotify is reportedly making major changes to its royalty model https://t.co/7RWHcONTm7
Does anyone know, even just roughly, what % of my Spotify subscription goes to the artists versus to Spotify?
Spotify is reportedly revamping its royalty payout model beginning in 2024. Among the reported changes: 1. A threshold of minimum annual streams before a track can earn royalties (believed to be in the range of 200 listens per year). 2. A crack down on fraudulent uploads. 3.… https://t.co/rn3xYh7Ydd https://t.co/XIf9DiK34D
Report: Spotify is set to change its financial model next year, and will demonetize the lowest-streaming tracks. https://t.co/qIxee7gDad
Spotify is apparently planning to pay even less in royalties to less-popular artists https://t.co/vJ07pVc3qS
Spotify $SPOT 3Q23 Earnings 💪🏻 - Rev €3.4b +11% ↗️🟡 FXN +17% ↗️🟢 - GP €885m +18% ↗️ margin 26% +166 bps ✅ - EBIT €32m ⤴️ margin 1% +846 bps ✅ - Net Inc €65m ⤴️ margin 2% +740 bps ✅ - OCF €211m +428% ⤴️ margin 6% +497 bps ✅ - FCF €216m +517% ⤴️ margin 6% +528 bps ✅… https://t.co/PKopqPKQ94 https://t.co/1xNEbJUk2m
Spotify $SPOT 3Q23 Earnings 💪🏻 - Rev €3.4b +11% ↗️🟡 FXN +17% ↗️🟢 - GP €885m +18% ↗️ margin 26% +166 bps ✅ - EBIT €32m ⤴️ margin 1% +846 bps ✅ - Net Inc €65m ⤴️ margin 2% +740 bps ✅ - OCF €211m +428% ⤴️ margin 6% +497 bps ✅ - FCF €216m +517% ⤴️ margin 6% +528 bps ✅… https://t.co/HF3KJuAkiy https://t.co/z3nknD9xvj
Spotify Is Changing How It Pays Artists https://t.co/ULwa1DcVb5
Spotify Jumps on Sales and Subscriber Growth, Higher Pricing (@ashleyrcarman - @business) https://t.co/hiDEDvaRoS
Spotify’s share price jumped almost 10% Tuesday. https://t.co/Q1lo4esvAf
Spotify added 6m Premium subscribers in Q3 -- and posted a quarterly profit (@murraystassen - @musicbizworld) https://t.co/3wTk6e6KsY
Spotify Stock Surges 10% After Unexpected Profit https://t.co/hoRoSRLhCL
Spotify premium subscriber growth: • 2015 - 28 million • 2016 - 48 million • 2017 - 71 million • 2018 - 96 million • 2019 - 124 million • 2020 - 155 million • 2021 - 180 million • 2022 - 205 million • 2023 - 235 million (est.)
Spotify is on a roll now post-earnings The company reported a profit of $69 million in Q3—its first quarterly profit since 2021 YTD shares have doubled, up roughly 107% https://t.co/rdfN5vwZgG
Spotify Stock Surges 10% After Unexpected Profit https://t.co/WQoXdSdZgz https://t.co/Q0RGUqY61p
Spotify stock jumps 10% as cost-cutting boosts streamer to first quarterly profit in a year https://t.co/xO94htgCT7
In the green! Spotify posts first quarterly profit in more than a year - after hiking prices, slashing its podcast budget by axing ties with Harry and Meghan https://t.co/5D1gfFbv0s https://t.co/Z39N4wHSFc
In the green! Spotify posts first quarterly profit in more than a year - after hiking prices, slashing its podcast budget by axing ties with Harry and Meghan https://t.co/1ptzdqdiex https://t.co/zw658pftWG
Spotify CFO on surprise quarterly profit: 'We hit an inflection point' https://t.co/8WjS4AztOS by @allie_canal
Spotify stock jumps 10% as cost-cutting boosts streamer to first quarterly profit in a year https://t.co/Ejl1k1Omnl
$SPOT Spotify in one chart. 📊🎧 🟢 More users. ⚫️ Same gross margin. You can't offset poor unit economics with volume. https://t.co/Jd7qfoX7qL
$SPOT Spotify Q3 FY23: Users: • MAU +26% to 574M (2M beat). • Premium Subs +16% to 226M (2M beat). Financials: • Revenue +11% Y/Y to €3.4B (€0.1B beat). • Revenue +17% fx neutral. • Operating margin 1% (+8pp Y/Y). • EPS (€0.33). Q4 FY23 Guidance: • MAU +23% Y/Y to… https://t.co/wqlxTL9wvw https://t.co/z9MGmd5dfp
Spotify Posts First Quarterly Profit in More Than a Year, Paid Subscribers Reach 226 Million https://t.co/RRoAVFDqKk
Spotify swings to profit after cutting costs and raising prices https://t.co/n6Qv9nOrb3
$SPOT (+2.8% pre) Spotify turns a profit in Q3 as total users, gross margins beat expectations - Y Finance https://t.co/Ky6DlIZ4Ua
Spotify swings to profit as user numbers grow https://t.co/A56zk8hNWv
Spotify Turns Profit, Adds 6 Million Subscribers in Q3 Following Price Hikes and Cost Cuts https://t.co/jOCfzcz3nZ
🔥 Spotify paying subs up 16% y-o-y and 3% seq, while Apple has not disclosed stats since mid-2019 Global Music Paid Sub Comparison $SPOT $AAPL ▪ @Spotify at 226 mm as of end of Q3 2023 (27% or ~61 mm in North America) ▪ @AppleMusic 60 mm as of June 2019 (has NOT updated) https://t.co/wD33ox6W2o
Spotify reports an 11% spike in revenue and its first profit in a year following a $1-price hike on U.S. premium solo plans. https://t.co/eowh3jRhQA
Spotify Posts Surprise Q3 Profit as Subscribers Leap 26% https://t.co/fbNH8fr8Yo
Spotify posts quarterly profit, user growth beats expectations https://t.co/7jtiJK3sRJ https://t.co/5H0JSsWU0m
Spotify Technology swung to its first quarterly profit in more than a year after beating expectations for subscriber and revenue growth https://t.co/4R9uabOe5x
Spotify reports a surprise operating profit due to the early impact of a price increase and a jump in subscribers https://t.co/wOGlzhBvMb
Spotify’s paid subscribers grow to 226 million amidst price increases https://t.co/T8scstKXak
Spotify turns a profit in Q3 as total users, gross margins beat expectations https://t.co/77YJKacK1h by @allie_canal
Spotify Hits 226 Million Paying Subs, Swings to Quarterly Operating Profit https://t.co/rFpqg7yVim
Spotify reports Q3 revenue up 11% YoY to €3.4B, MAUs up 26% to 574M, Premium users up 16% YoY to 226M, and a €32M profit, beating estimates of a €44.6M loss (@ashleyrcarman / Bloomberg) https://t.co/Q3bBi9ZTso 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/rfR8kTDmdr
Spotify Posts 11% Revenue Boost & Reverses Previous Quarter's Operating Loss https://t.co/OVCPaB8dTw
Spotify reports a surprise operating profit due to the early impact of a price increase and a jump in subscribers https://t.co/jTyx3f4Z9N
With a premium Spotify subscription, music lovers can stream their favorite tracks on the go. https://t.co/WFRAJfAri5
Spotify earnings preview: Wall Street focused on improving margins amid profitability push https://t.co/funji6UZmk by @allie_canal
Spotify Is Eating the Entire Music Business (@jwherrman - @NYMag) https://t.co/JgCI46WVRn