Spotify grew far more than expected, but is still losing money

In the second quarter of 2023, Spotify saw its million monthly active users (MAU) climb to 551 million after welcoming 36 million new listeners. That represents a 27 percent increase in MAUs and is an all-time high for the streaming giant, which has just published its earnings report. While not all new users signed up for a Premium account, Spotify also had a record-breaking second quarter when it comes to Premium subscriber numbers. It welcomed 10 million paying users — 3 million larger than guidance — and grew its subscriber base by 17 percent year over year. That's not an all-time high, but it's also apparently the best Q2 Spotify has ever had in that regard.