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Spotify:Quarterly Results/2023 Q1: Difference between revisions
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* Listening hours for MAU was really strong in the quarter, both across music and podcasting | * Listening hours for MAU was really strong in the quarter, both across music and podcasting | ||
==== | ==== Advertising ==== | ||
* | * Modest underperformance in advertising. | ||
* First Q1 in Spotify's history that surpassed €300 million in ad revenue. | * First Q1 in Spotify's history that surpassed €300 million in ad revenue. | ||
* Slightly behind on the ad side, about 15 -- about 20 million or so. | * Slightly behind on the ad side, about 15 -- about 20 million or so. | ||
* Have had similar sort of trends heading into | * Have had similar encouraging sort of trends heading into Q2. | ||
* Data driven opportunity to measure and target ads better over time. | |||
* Growing nicely and outperforming the market and peer group overall, but the macro has probably slowed down the results. | * Growing nicely and outperforming the market and peer group overall, but the macro has probably slowed down the results. | ||
* Comps do get easier throughout the year, which will definitely benefit results | * Comps do get easier throughout the year, which will definitely benefit results | ||
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==== Efficiency ==== | ==== Efficiency ==== | ||
* | * Focusing on speed of decision-making. | ||
* Will still take some time before that then leads into actual products that then leads to actual business results. | * Will still take some time before that then leads into actual products that then leads to actual business results. | ||
* Gross margin side seeing sequential improvement throughout 2023, and will continue. | * Gross margin side seeing sequential improvement throughout 2023, and will continue. | ||
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* Have already made lots of iterations with the user feedback gotten. | * Have already made lots of iterations with the user feedback gotten. | ||
* Will take multi quarters for us to roll out because it's not just a feature or something else. It's a whole new infrastructure behind it with a whole new instrumentation for our AI tools as well. | * Will take multi quarters for us to roll out because it's not just a feature or something else. It's a whole new infrastructure behind it with a whole new instrumentation for our AI tools as well. | ||
'''New Products''' | |||
* Two out of three new verticals teased at investor day last year are advancing nicely. | |||
==== Content ==== | ==== Content ==== | ||