By the end of last year, Spotify had reached an incredible milestone: it had 205 million paying subscribers.
Furthermore, 489 million people were using Spotify at least once a month and this was an increase of 20% compared to a year before – the biggest rise ever for net new listeners.
The streaming service expects to reach 500 million total active listeners by the end of March too.
The company’s closest competitor, Apple Music, is lagging behind with only 60 million subscribers reported in June 2019 – being equal to only 1% of the world’s subscription music market while Spotify’s share is almost twice that amount.
Shares in Spotify went up 4.4% premarket making it clear that this seems like an unstoppable phenomenon.
Moving forward into 2021, quarter four brought losses with 270 milion euros ($293.5 million) or 1.40 euros a share and revenue increasing 18% to 3.17 billion euros for the same period as well as predictions for 207 million paid subscribers by the end of March and reaching 500 million total active users soon after that.
Article updated 4 months ago. Content is written and modified by multiple authors.
