Spotify forecasts up to 96 million subscribers in fiscal 2018
08 April, 2018, 03:20 | Author: Pamela Mathis
Millions of premium users on Spotify pay $9.99 monthly to alleviate annoying interruptions by ads when they are streaming songs on the platform.
According to Reuters, the Swedish company said it expected 2018 revenue of 4.9 billion to 5.3 billion euros ($6.1-$6.8 billion), which would mark a slowdown from the 39 percent growth recorded in 2017 when it inked improved licensing deals with major music labels.
Twenty-three million is, in turn, exactly the same number that the company's subscriber base grew by in 2017.
The company had 157 million active users as of December 31, of which about 71 million were paid subscribers who access ad-free versions of the service, according to its website.
Spotify said that "we now do not have, and may never have, the requisite data available to adjust such key performance indicators and other metrics prior to January 1, 2017, and as a result, such key performance indicators and other metrics for such periods may be overstated". It also expects total MAUs to reach 168-171 million this month.
The streaming music giant shared its quarterly and yearly outlook in its latest Securities & Exchange Commission filing, published earlier in the week, including a prediction of between 92-96 million paid premium subscribers by the end of 2018, up 30-36% year on year.
Having surpassed competitors such as Apple (Apple Music) and Alphabet (Google Play Music), Spotify hold a significant portion of the worldwide music streaming market, which could appeal to potential investors.
As far as Spotify's financial future is concerned, the company anticipates that its revenue for 2018 will fall somewhere in the $6.1 billion to $6.5 billion range.
Spotify's prognosticators also project between 198 and 208 million active users, a year-on-year growth rate of 26-32%. Well, the company expects to end the quarter with 168-171 million monthly active users, 28-31 percent increase from the same quarter a year ago.
Spotify is set to float on the NYSE next Tuesday (April 3).
Spotify'sgross margin is forecast to be 23-25% in 2018. However, this is well below its long-term target of 30-35%.
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