Results for: Monthly Active Users

Black Myth: Wukong, an action RPG based on Chinese mythology, dominated the gaming charts in August 2024, achieving top revenue rankings across six major markets, including the US, UK, Germany, France, Spain and Italy. This success showcases the game’s strong debut performance across various platforms, including PC and consoles. While Black Myth: Wukong saw significant gains, other games like The First Descendant experienced revenue declines. Meanwhile, established titles like Fall Guys, Diablo 4, and World of Warcraft saw notable increases in player activity, with World of Warcraft experiencing its biggest monthly active user (MAU) increase of 2024. Lego Star Wars: The Skywalker Saga also saw a boost in engagement, driven by its inclusion in PlayStation Plus and a significant discount on the Nintendo Switch.

Spotify Technology SA reported strong financial results for the first quarter of its 2024 fiscal year on Tuesday. Revenue climbed by 20% year-over-year to $3.95 billion, exceeding analyst estimates of $3.85 billion. Earnings per share (EPS) of $1.05 also beat the consensus of 70 cents. The company experienced robust growth in premium revenue, which rose by 20% to 3.25 billion euros. This was driven by an increase in subscribers as well as growth in average revenue per user (ARPU). Total Monthly Active Users (MAUs) reached 615 million, a 19% increase year-over-year. While Spotify had anticipated a slightly higher figure, it still missed its guidance by 3 million. Ad-supported MAUs saw an impressive 22% year-over-year growth, totaling 388 million. Premium subscribers also witnessed a significant 14% year-over-year increase, reaching 239 million. Spotify maintains a healthy financial position, with 4.7 billion euros in cash and equivalents, and generated 207 million euros in free cash flow. For the second quarter, Spotify projects revenue of 3.8 billion euros and 631 million MAUs. The company’s strong performance has garnered positive reactions from analysts, leading to price target increases by Pivotal Research, Benchmark, and Rosenblatt.

Spotify’s stock soared by nearly 17% after the company exceeded expectations in its latest earnings report and provided optimistic guidance for the upcoming quarter. The stock reached a 52-week high, with shares rising 16.8% to $318 per share during afternoon trading. The audio streaming giant has implemented price increases within the past year to enhance revenue and improve margins.

Spotify Technology SA (SPOT) reported strong financial results for the first quarter of fiscal 2024, exceeding analysts’ expectations. Revenue climbed 20% year-over-year to €3.64 billion ($3.95 billion), outpacing the consensus estimate of $3.85 billion. Earnings per share (EPS) of €0.97 ($1.05) also surpassed the $0.70 consensus.

Premium revenue, which accounts for the majority of Spotify’s income, grew 20% year-over-year to €3.25 billion, driven by subscriber additions and increased average revenue per user (ARPU). Total monthly active users (MAUs) reached 615 million, marking a 19% increase annually but falling short of the original guidance by 3 million. Spotify attributed the lower-than-expected MAU growth to reduced marketing activity following record performance in 2023 and recent organizational changes, including layoffs.

Ad-supported MAUs experienced a 22% year-over-year growth to 388 million, while premium subscribers increased by 14% year-over-year to 239 million. Within the Premium tier, ARPU rose by 5% year-over-year to €4.55. Ad-supported revenue also saw an 18% increase to €389 million.

Spotify’s gross margin improved significantly, reaching 27.6%, reflecting enhanced profitability in podcast and music streaming services. Operating income reached a new quarterly high of €168 million with a margin of 4.6%. Spotify held €4.7 billion in cash and equivalents and generated €207 million in free cash flow.

For the second quarter, Spotify projects revenue of €3.8 billion (consensus estimate: $3.76 billion) and total MAUs of 631 million. SPOT shares surged over 107% in the past year, providing investors with access to the company’s growth through ETFs such as Global X Social Media ETF (SOCL) and ProShares On-Demand ETF (OND).