Spotify has 100 million paying users

The number of paying Spotify subscribers has increased by 32 percent compared to last year to 100 million. The streaming music company reports this with the announcement of its quarterly and annual figures.

Spotify has taken just under ten years to reach 100 million paying users. The service was launched in October 2008. A year ago, the number of paying users was still 75 million; in the last quarter of last year it was 96 million.

In total, the Swedish company’s service has 217 million monthly active users. Of these, 123 million listen to the service with advertisements. The advertising service is growing at 21 percent slower than the paid service. It is striking that the share of the US and Canada in terms of monthly active users grew slightly compared to last year. Especially in the US, Spotify has to deal with fierce competition from Apple Music.

According to Spotify, the growth is due to promotional campaigns in the US and Canada that were more successful than expected. Spotify points to the provision of Google Home Minis with subscriptions and the price reduction of Spotify Premium in combination with Hulu in the US. The company also saw growth with its Family subscription.

Spotify expects further growth in the number of paying users this year to 117 to 127 million. Spotify’s revenue increased by 33 percent to 1.5 billion euros. Spotify still fails to make a profit. The loss amounted to 142 million euros; that was 41 million euros a year ago.