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Popular music service Spotify registers a rise in subscribers

It became known that in the second quarter of this year, the number of paid subscribers to the popular music service Spotify increased to 188 million people, and the number of monthly active users in the reporting period was 433 million people.

The announced figures show that Spotify's paid and monthly active subscribers increased by 14% and 19%, respectively, year on year. This is also comparable to the first quarter, when the number of paid subscribers was 182 million people and active users – 422 million people. The company noted that during the reporting period, the number of monthly active users increased at a record pace, due to which the predicted number was exceeded.

Spotify's report said the company posted a loss of $127 million in the second quarter. The platform's average revenue per user is $4.60, up from $4.44 last year.

At the same time, the company sees audiobooks as another area of ​​further growth. Previously, Spotify became the owner of the Findway audiobook platform, which allows authors to publish their books and earn money from it. Furthermore, Spotify has yet to announce the Spotify HiFi plan pricing or release date. The ability to listen to music in high quality will likely help the service attract new users.

AVnews