According to the latest statement made by Spotify, the monthly active user number of the service has reached 320 million. The number of paid subscribers increased to 144 million. Spotify has achieved an increase of 29 and 27 percent in these areas, respectively.
The main factor in the increase in the number of users is the advertising campaign in India and the launch of Spotify in Russia and 12 countries around it. The company stated that Russia had the most successful exit performance.
The increase in the number of users and subscribers has put Spotify well ahead of its competitors Amazon and Apple. According to data from last January, Amazon Music has 55 million subscribers, almost all of which are paid. Apple Music does not have a free package except promotions and trials, and the number of subscribers was 60 million according to the figures given last year.
Despite the increase in the number of users and revenues, Spotify could not avoid closing the remaining quarter with a loss of 101 million euros. The company had made a profit of 241 million euros in the same period a year ago. Spotify’s efforts to gain new users with discounted plans seem to have been effective in the emergence of this table. The company’s per-user revenue fell 10 percent compared to the previous year, to 4.19 euros.
Spotify also gave detailed information about podcasts, which play an important role in the increase in the number of users. It was stated that the total number of podcasts on the platform reached 1.9 million, while 22 percent of its monthly users listen to podcasts. This rate was at the level of 21 percent in the previous quarter.