Last month, Neil Young was the first artist to pull his music catalog from the platform because he “could not continue to support Spotify’s life threatening misinformation to the music loving public.” He was followed by Joni Mitchell, Bruce Springsteen guitarist Nils Lofgren, India Arie and Young’s former bandmates David Crosby, Stephen Stills and Graham Nash. But Spotify has a broad range of content on our platform, so there really is something for everyone here and for advertisers to take to as well,” Ek said on the call. “I have a tremendous amount of confidence in that, and of course we’re hearing from our partners. But the executive noted that while Rogan “has a massive audience,” he also has to “abide” by Spotify’s content policies. Spotify CEO Daniel Ek said it was “too early to know” what kind of subscriber churn could be attributed to users dropping their subscriptions because of Rogan.
The forecast comes amid growing list of musicians and podcasters who have protested the company’s handling of COVID-19 misinformation spreading on Joe Rogan’s Spotify-exclusive podcast, The Joe Rogan Experience, resulting in some users canceling their subscriptions. Looking ahead to Q1 2022, the Stockholm-based company shared muted subscriber growth expectations of 183 million paying subscribers. For the quarter ending in December 2021, Europe accounted for 40 percent of Spotify’s paying subscribers, while North America followed with 29 percent. Last quarter, the audio giant had 172 million paid subscribers and 381 million total monthly active users, with advertising revenue hitting 323 million euros (around $375 million). In a letter to shareholders Wednesday, Spotify noted that podcast advertising revenue “benefited from strong growth across existing Spotify studios and our exclusive licensing deals,” in addition to a larger inventory in Spotify’s ad network. The audio giant also noted that its podcast library grew to 3.6 million in Q4, up from 3.2 million at the end of Q3. Spotify had 180 million paid subscribers and 406 million monthly active users to end 2021, falling within its expectations for the quarter of 177 million to 181 million paying subscribers and 400 million to 407 million monthly active users.Īdvertising revenue grew to 394 million euros, or around $445 million, in the fourth quarter, up 40 percent year-over-year, while total revenue hit 2.69 billion euros, or about $3.04 billion.
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