Spotify has nearly two million podcasts on its platforms

Spotify has 1.9 million podcasts on its platform. This is evident from the explanation of the quarterly figures that the company has published. The music streaming service is investing heavily in the growth of podcasts on its platform.

In the third quarter of this year, Spotify had 1.9 million podcasts on its platform, an increase of 400,000 from the number in the second quarter of this year. Spotify is investing heavily in increasing the number of podcasts. Earlier this year, the company signed an exclusive million dollar deal with Joe Rogan and also bought the podcast network Gimlet Media.

Of the monthly active users on Spotify, 22 percent listened to podcast content in the past quarter. That number was still 21 percent during the second quarter. Total active users stood at 320 million in the quarter, up 29 percent from a year ago and up 7 percent from the second quarter. Spotify attributes this increase mainly to a successful introduction of its service in Russia and many ex-Soviet states and successful marketing campaigns in India.

The number of paying subscribers is now at 144 million, an increase of 27 percent year-on-year and an increase of 5 percent against the number in the second quarter of this year. Spotify says strong growth can be seen in all regions, but again the company specifically mentions Russia, which, according to the service, is “ the most successful market introduction to date. ” Spotify also points to the earlier introduction of the Duo subscription as another reason for the growth.

The total turnover amounted to 1.98 billion euros, an increase of 14 percent compared to the third quarter of 2019. The company is still in the red, with a net loss of 101 million euros. That loss is smaller than the 356 million euros that was still lost in the second quarter of this year, but the third quarter of 2019 ended positively with a profit of 241 million euros.