Spotify Technology S.A. (NYSE:SPOT) Q3 2023 Earnings Conference Call October 24, 2023 8:00 AM ET

Company Participants

Bryan Goldberg - Head of Investor Relations

Daniel Ek - Founder, Chief Executive Officer and Chairman

Paul Vogel - Chief Financial Officer

Operator

Good morning and welcome to Spotify's Third Quarter 2023 Earnings Call and Webcast. All participants are in a listen-only mode. [Operator Instructions] As a reminder, this conference call is being recorded.

I would now like to turn the call over to Bryan Goldberg, Head of Investor Relations. Thank you. Please go ahead.

Bryan Goldberg

Thanks, operator, and welcome to Spotify's Third Quarter 2023 Earnings Conference Call. Joining us today will be Daniel Ek, our CEO; and Paul Vogel, our CFO. We'll start with opening comments from Daniel and Paul and afterwards, we'll be happy to answer your questions.

Questions can be submitted by going to slido.com, S-L-I-D-O.com and using the code #SpotifyEarnings Q323. Analysts can ask questions directly into Slido and all participants can then vote on the questions they find the most relevant. If for some reason, you don't have access to Slido, you can e-mail investor relations at ir@spotify.com and we'll add in your question.

Before we begin, let me quickly cover the Safe Harbor. During this call, we'll be making certain forward-looking statements, including projections or estimates about the future performance of the company. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could materially differ because of factors discussed on today's call, in our shareholder deck and in filings with the Securities and Exchange Commission.

During this call, we'll also refer to certain non-IFRS financial measures. Reconciliations between our IFRS and non-IFRS financial measures can be found in our shareholder deck in the financial section of our Investor Relations website and also furnished today on Form 6-K.

And with that I'll turn it over to Daniel.

Daniel Ek

All right. Hey, everyone, and thank you so much for joining us. I hope you've had the opportunity to review our shareholder deck. Bottom line, it's a really exciting time at Spotify, and I'm super pleased at how the business is performing. It was a truly stellar quarter and one that clearly illustrates that we're making great progress against the goals that we laid out for you at our 2022 Investor Day.

Q3 was our second largest quarter ever for MAU net addition. And as we look ahead to the end of the year, you'll also see that we're forecasting to hit another big milestone, reaching more than 600 million monthly active users at the end of the year, and this puts us well on our way to reaching more than 1 billion global users by 2030. And to put that number into context, 15 years ago this month, Spotify went live in France, Finland, Norway, Spain, Sweden and the UK. It's been a wild ride.