Spotify released its Q1 2023 earnings on Tuesday, and the company saw immense podcast revenue growth.
The company saw a YoY growth of 20% in podcast revenue and cited "Original and Exclusive podcasts where sold impressions grew strong double-digits and CPMs increased high single-digits."
The Spotify Audience Network grew by double digits over the last quarter in participating shows and publishers.
- Spotify's Premium revenue grew 14% YoY, and Ad-supported revenue grew 17%.
- Ad-supported revenue grew by double digits across almost all regions.
- It also saw a rise in Monthly Active Users (MAUs), growing from 489 million to 515 million last quarter.
- Spotify also gained five million Premium subscribers since Q4 2022.
- The earnings presentation highlighted what changed in the podcasting landscape during the quarter, mentioning NPR and Immediate Media joining Spotify and the second season of Forbidden Fruits.
