21+ Spotify Revenue and User Statistics for 2023

Leading the music streaming industry, Spotify was started by Martin Lorentzon and Daniel Ek in Sweden in 2006. Spotify statistics demonstrate that during its 16-year reign, the platform has led a revolution, fueling the change from buying individual tracks and albums online to streaming them via the subscription model. Thereby setting the standard for many other music services and streaming businesses we know and love today. 

Spotify’s streaming service heralds a huge shift within the music industry and doesn’t show signs of slowing down any time soon. Indeed, it looks like Spotify has much to teach others in the business, as well as those looking to echo its success. However, don’t just take our word for it; check out all the fascinating Spotify information we were able to dig out. 

Eye-Opening Spotify Statistics

Just as you may expect from a market leader like Spotify, there are some pretty impressive statistics associated with its name: 

• Spotify collects annual revenue of around 10 billion euros.
• In the first nine months of 2022, Spotify's revenue was estimated at €8.56 billion.  
• Spotify currently has over 456 million monthly active users. 
• With over 195 million paying subscribers, Spotify is the world’s largest streaming service.
• Men make up over half of all Spotify users at 56%.  
• As of 2023, there are 82 Million songs on the Spotify platform.
• Spotify currently operates at a 39 million euro net loss.

General Facts About Spotify

Below you’ll find statistics that’ll better help you understand Spotify’s operation and success. 

1. As of 2023, Spotify hosts a massive 82 million songs.

(Demand Sage) 

This is despite the misinformation controversy over Joe Rogan’s podcast, which caused many artists, including Neil Young, to request their music be taken down from the platform. 

2. Spotify owns an additional 24 enterprises.

(Appinventiv)

One thing that sets Spotify apart from other streaming platforms is that it has acquired a wealth of other businesses. Its most recent acquisition is Whooshkaa in December 2021, which makes a total of 24! 

3. Spotify is available across multiple platforms.

(Appinventiv)

While many people choose to listen to Spotify on their iOS or Android smartphones, Spotify’s reach doesn’t end there. There are also versions for tablets, computers, and laptops running MacOS and Windows. 

Spotify Revenue Growth

If you are wondering how much money does Spotify make, check the statistics below:

4. For the first three quarters of 2022, Spotify generated €8.56 billion in revenue, up from €6.98 billion for the first three quarters of 2021.

(Spotify)

Spotify revenue is constantly growing. In 2016 Spotify revenue was €2.95 billion.

5. Spotify stats show the platform took almost €10 billion in revenue in 2021. 

(Statista)

This is a revenue increase of €7.88 billion from 2020. Most of it came from premium subscriptions. 

Here is Spotify annual revenue growth from 2016 to 2022:

6. For the first three quarters of 2022, Spotify ad revenue was valued at over €1 billion.

(Spotify)

Advertising brings in only 10-12% of Spotify total revenue. Premium subscribers are Spotify major source of income.

7. In 2021, Spotify's ad revenue reached €1.2 billion, up from €745 million in 2020.

(Statista)

This number is predicted to grow to over €2 billion by 2026. Spotify's advertising revenue growth is led by podcasting. 

Spotify Profit

While Spotify’s revenue is high, you can see from the statistics below it continues to operate at a loss. 

8. Spotify operates at a loss.

(Statista, Spotify)

Despite this impressive increase in revenue, Spotify has yet to declare a profit. Instead, 2021’s figures showed a net loss of around €39 million, which at first glance may call its success into question. The firm cites high operating costs like marketing and content rights as the cause.

Here you can find out Spotify Profit (Loss) from 2009 to 2022:

Spotify Market Share

Spotify still holds a large share of the music streaming market, but the stats below show it shrinking over time. 

9. Spotify has control of over 30% of the streaming market. 

(MIDiA Research)

By the Q2 of 2022, the entire music streaming market consisted of more than 616.2 million paying subscribers, up 7.1% from 2021. Spotify users account for a massive 187.8 million of those. 

10. Spotify’s market share is falling over time.

(MIDiA Research)

Despite controlling over 30% of the market share of music streamers, Spotify’s overall share has been falling since 2018, when it was 42.7%, compared to the 32% of the total market it had in 2021. 

Here you can find out music streaming market shares in 2022:

How Many People Use Spotify?

11. Spotify has over 456 million monthly active users. 

(Spotify) 

The number of active users on Spotify grew from 422 million at the beginning of 2022 to 456 million in the third quarter of 2022. At the same time, Spotify’s premium subscriber base has also been increasing to 195 million users.

The table below represents Spotify users growth from 2015 to 2022:

How Many Premium Subscribers Does Spotify Have?

12. Spotify has 195 million premium subscribers, which is 43% of all their active users. 

(Spotify)

The number of Spotify premium users is increasing year over year. At the end of 2021, there were 180 million premium subscribers.

See below how the number of premium Spotify users has grown from 2015 to 2022:

How Many People Use Spotify in the US?

13. Spotify has 100 million active monthly users and 55 million premium subscribers from North America, including the United States.

(Source: Spotify)

The majority of Spotify users are from European countries: 31% of monthly active users and 39% of premium subscribers.

The table below shows the number of Spotify users by region:

Spotify User Demographics

The platform’s number of users continues to increase, with males and those between 25 - 34 making up the majority of the Spotify user base. The company’s target market tends to be in the millennial range. 

14. Spotify gender demographics show that 56% of Spotify users are males.

(Statista)

Another 44% of Spotify users are females.

15. Spotify user statistics state people between 25-34 use the streaming service the most.

(Statista) 

29% of all Spotify users are within the 25-34 age range, making Spotify’s target audience mainly millennials. This compares to 26% in the 18-24 age range and a mere 11% in the 45-54 age range (all within the US).

Check out the table below for Spotify age demographics:

How Many Users Have Left Spotify?

16. Between January and March 2022, 5% of UK and US Spotify users canceled their premium subscriptions.

(Forrester)

Most Spotify subscribers aren't planning to leave the platform as it is difficult to find another brand with the same features.

How Much Data Does Spotify Use?

17. Spotify streaming uses 10-150MB of data per hour depending on audio quality settings.

(Whistleout)

If you are streaming with low sound quality then the data usage will be 10MB per hour. For very high-quality data usage will grow up to 150MB per hour.

Find out Spotify data usage depending on your settings:

Spotify Listening Statistics

While it’s available across a range of devices, people are still most likely to stream Spotify on their smartphones. 

18. Spotify has over 80 million songs and 4.7 million podcasts available for free.

(Spotify)

Spotify premium users can enjoy platform services with more extra features, like higher-quality sound, ad-free listening, etc.

19. Over half of the users listen to Spotify on mobile devices.

(Appinventiv)

52% of users are accessing the platform through their smartphones, while only 10% are listening via tablets. 

20. Spotify boats 100 songs that have been played a billion times!

(Appinventiv)

Yes, that’s right – there are some tracks on Spotify that have been played a billion times or more. Statistics from 2022 list Rockstar, Havana, Shape of You, and Closer as breaching the billon-time playlist. 

21. Spotify-curated playlists make up one-third of the total listening time.

(Goodwater Capital)

Even with so many tracks on offer, Spotify helps its audience find new songs by offering curated playlists. These can be based around any theme – from genres to moods and even star signs! These playlists make up 31% of the total user listening time. At least half of that number is attributed to personalized playlists Spotify creates from the individual history of each subscriber. 

22. There are 4 million songs on Spotify that have never been played – not even once! 

(Billboard)

A somewhat tragic fact about Spotify is that it currently hosts around 4 million tracks that have yet to be listened to. Of course, this shows that presence on the platform alone is not enough for success when it comes to recording artists. 

Wrap up

While the above Spotify facts clearly show the platform’s dominance over the music streaming industry, it’s interesting to note that not all is as it may seem. Indeed, by drilling down into the statistics, we can see the contrast between Spotify’s ever-increasing listener and revenue numbers and its profits. So, no matter how large its subscriber base and market share, one can’t help but wonder about the profitability and long-term sustainability of Spotify’s model.