Spotify zooms past 100 million paid subscribers
Spotify, the leading music-streaming service, inwards its near recent quarterly filing announced that it at in i lawsuit has a hundred i one k thousand customers on its paid Premium tier.
The company’s Premium subscribers grew to 100 i one k thousand inwards the March quarter, representing a 32 per centum annual boost. Spotify’s guidance called for 97-100 i one k thousand Premium accounts.
In total, the streaming service reported 217 i one k thousand users, 117 i one k thousand of which are on its free, ad-supported tier.
By comparison, Apple Music surpassed fifty i one k thousand paid users during the Dec 2018 quarter (at the cease of November, it had 56 i one k thousand paid together with trial customers).
According to the Swedish company, outperformance was driven yesteryear a ameliorate than innovation advertisement inwards the the States together with Canada together with continued rigid increment inwards Family Plan.
“We likewise saw rigid increment from the expansion of our Google Home Mini promotion, equally good equally the toll reduction to our Spotify Premium + Hulu offering inwards the US,” the release reads.
Spotify likewise benefited from launching its service inwards India, a 1.34 billion people opportunity, at the cease of February—according to the release, to a greater extent than than a i one k thousand Indian users signed upwards inwards the commencement week, together with that pose out has to a greater extent than than doubled inwards the next 4 weeks.
But although the streaming theatre during the vacation quarter turned a net turn a profit for the commencement fourth dimension inwards its history, it’s dorsum to losing money—in the March quarter, it lost €142 i one k thousand ($158 million).
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