Spotify has 158 million paying subscribers
Spotify now has 158 million users who pay to listen to music or podcasts on the streaming service. In total, there are 356 million monthly active users, the company says in announcing its quarterly figures.
Spotiy reports in an explanation of the quarterly figures that the number of 158 million paying users represents an increase of 21 percent compared to the number from the first three months of last year. Compared to the last three months of last year, three million paid users have been added.
The total number of monthly active users is now at 356 million, which is an increase of 24 percent compared to the first quarter of 2020. When this number is compared to the number of the previous quarter, there is an increase of three percent.
The number of monthly active users who use Spotify without a subscription and therefore have to deal with advertisements rose the fastest year on year. In the same period a year ago, this was 163 million users and now that has increased by 27 percent to 208 million. In the last three months of last year, there were still 199 million users of this group.
Spotify’s total turnover amounted to 2.15 billion euros, an increase of 16 percent compared to the turnover achieved a year ago. In the past quarter, Spotify made a modest profit of 14 million euros, compared to a loss of 17 million euros a year ago and a loss of 69 million euros in the previous quarter.
The music streaming service is still heavily committed to podcasts, with 2.6 million of those present on the platform, compared to 2.2 million podcasts at the end of the last quarter of last year. The company says there were significantly more hours of podcast listening in this quarter, but Spotify does not provide specific figures.
Spotify recently announced that it will increase the prices for Premium for European Duo and Family users. The service says it has so far increased the prices of a variety of Premium subscriptions in more than 30 countries and early results suggest it has had “no major impact”, for example in terms of new users or number of cancellations.