Spotify's revenues, subscriber count and net losses all shot up during its second quarter since arriving on Wall Street, the company announced today.
The Daniel Ek-led music streaming service said on Thursday that it ended June with 83 million premium subscribers, up 10 percent since last quarter, and 180 million monthly active users (MAU), up only 5.9 percent.
Total revenue for the quarter was €1.273 billion ($1.49 billion), an increase of 26.4 percent year-over-year and 12 percent compared to last quarter. Of that revenue tally, the vast majority (€1.15 billion) came from premium subscribers; ad-supported revenue totaled €123 million, an increase of 21 percent since Q1.