Spotify ad revenue grew 14% in Q4 last year

Spotify today announced the financial results for Q4 2022. Spotify Ad Revenue grew 14% in Q4 last year to 449 million euros.

Podcast revenue grew in the mid 30% range Y/Y, reflecting double digit Y/Y growth in impressions sold and pricing.

According to Spotify, music advertising had revenue grew mid single digits Y/Y, reflecting double digit Y/Y growth in impressions sold, partially offset by softer pricing due to the current macroeconomic environment. The Spotify Audience Network saw double digit Q/Q growth in participating publishers, shows and advertisers.

Advertising revenue only accounts for 14% of Total Revenue. Premium (paid subscriptions) revenue grew 18% Y/Y to €2,717 million. Spotify expects to reach 500 million MAUs this quarter.