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This statistic highlights Spotify’s Revenue Breakdown Worldwide, split between Luxembourg, United Kingdom, United States, and other countries.
Spotify is ranked first. The most popular streaming service on a global scale is closely followed by services like Apple Music and Amazon Music.
|Region||2022 Q1||2022 Q4||2023 Q1||YoY Growth (2023 Q1)|
|Luxembourg||€ 2||€ 1||€ 2||0%|
|Other countries||€ 1366||€ 1580||€ 1568||15%|
|United Kingdom||€ 273||€ 288||€ 283||4%|
|United States||€ 1020||€ 1297||€ 1189||17%|
|Total||€ 2661||€ 3166||€ 3042||14%|
(All figures are in millions, except percentages and the growth rate is on a year-on-year basis)
Spotify’s overall revenue climbed from €2661 million in Q1 2022 to €3042 million in Q1 2023, representing a 14% year-over-year gain. However, it falls short of the €3166 million earned in the Q4 of 2022 by 3.91%.
On April 23, 2006, Daniel Ek and Martin Lorentzon established Spotify, a privately held Swedish supplier of media services including audio streaming. Through a holding company with a Luxembourg City address, Spotify Technology S.A., Spotify is traded as American depositary receipts on the New York Stock Exchange.
The company’s slimmest revenue-producing region is Luxembourg. It made up 0.07% of the overall revenue, respectively. As its revenue of €2 million is the same in Q1 of 2022 and 2023, the growth rate is 0%; nevertheless, when compared to the previous quarter, Q4 2022, when its revenue was €1 million, the growth rate is 100%.
Consistently the highest revenue contributor up to 51.55%. Spotify’s revenue from other countries from €1366 million in Q1 2022 to €1568 million in Q1 2023, marking a 15% increase on a year-on-year basis. The revenue decreased by 0.76% compared to €1580 million in Q4 2022.
In other countries, Spotify operates in countries like India, France, Norway, Japan, etc. It almost operates in 184 countries.
The United Kingdom brought in €237 million in Q1 2022, ranking as the third-largest revenue market. This revenue increased by 4% in the first quarter of 2023. It accounts for 9.30% of overall revenue. However, the sales fell to €283 million in the most recent quarter, a 1.74% QoQ reduction.
The United States has maintained its second-place ranking over time in terms of revenue share. The company experienced a 17% YoY growth in this region between Q1 2022 and 2023. In the most recent quarter, sales totaled €1189 million. The revenue from the United States was €1295 million in Q4 2022 and €1020 million in Q1 2022, respectively. and it makes up 39.09% of the whole revenue contribution in Q1 2023.
Spotify is a streaming music platform. Users of the well-known music streaming service Spotify have access to a huge library of songs, podcasts, and other audio files. One of the most popular music services in the world, Spotify now has over 527 million active members globally. Both a free and premium version of the platform is available, with the paid version including extra features like ad-free listening, access to high-quality audio, and offline listening.
One of its biggest benefits is the ability to receive tailored music recommendations from Spotify. The website suggests new songs and artists that fit the user’s listening tastes and history using cutting-edge algorithms and user data. Additionally, users may follow their favorite artists through Spotify’s social features, make and share playlists with friends, and find new music through curated playlists and radio stations.
In recent years, Spotify has also grown in popularity as a podcast listening site thanks to its expanding collection of original and restricted content. The platform is a great option for fans of music and podcasts due to its user-friendly design and smooth connection with other hardware and software.
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