Spotify CEO and founder, Daniel Ek, says: “Despite the global uncertainty of 2020, it was a remarkable year for Spotify. Following a strong Q2 and Q3, Q4 met or exceeded our guidance by nearly every metric.”

Highlights from the quarter include:

• Key Metrics: 345M MAUs, above the top of our guidance range; Subscribers of 155M, exceeding the top end of our guidance range. Gross Margin was better than expected and we generated €74M of FCF.
• Revenue: Slightly above the midpoint of our guidance range on a reported basis; and slightly ahead of plan ex-FX.
• Advertising: Outperformed our forecast; strong Y/Y revenue growth across all regions and channels.
• Podcast Consumption: Hours nearly doubled Y/Y and 25% of our MAUs now engage with podcasts, up from 22% last quarter.
• Guidance: Although visibility is low right now, confident we can hit these numbers; numerous opportunities for upside to our forecast.

“I’m very encouraged by the progress we’ve made on our path to becoming the world’s number one audio platform. I want to thank all the Spotify employees who stayed focused on our creators, fans, and partners around the world this year, and for executing at such a high level. While it’s still early days, it’s clear to us that our strategy is working.” - Daniel Ek.