The company lost about 142 million in Q1 2019, which is in contrast to December's 442 million in profit. Spotify's net loss topped out at €142 million ($158.36 million), though the company did say that ad-supported revenue climbed 24% year-over-year to €126 million ($140.51 million).
The streaming service's shares traded largely flat on the news, down 0.4% Monday afternoon, at $137.64.
Paying subscribers are at the heart of Spotify's business model as the company's premium users account for more than 90 per cent of revenue, despite being less than half of the platform's active users.
In the three-month period ending March 31, 2019, Spotify's monthly active user (MAU) count grew 26 percent year-over-year to 217 million. The majority of Spotify's earnings - 1.38 billion euros - came from paying subscribers. Since it went public a little over a year ago, the company said the number of subscribers has jumped 32%, from 75 million in the first quarter of 2018. Analysts on average were expecting the company to have 218.6 million subscribers, according to research firm FactSet.
Premium subscriptions accounted for 91% of Spotify's revenue this quarter, totaling up to €1.3 billion, 34% higher year-on-year. Gross margin checked in at 24.7 percent, above Spotify's guidance range of 22.5 percent to 24.5 percent.
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Europe contributed 40 percent of the total paid subscribers, followed by North America with 30 percent.
The company reported a loss attributable to shareholders of 0.79 euros per share.
Spotify said it has spent 308 million euros buying podcast companies Gimlet Media and Anchor FM and another 50 million buying Cutler Media LLC, the parent company of Parcast.