by The most popular Swedish music and podcast streaming service Spotify, which recently officially launched in Ukraine, was marked by another important achievement – its audience reached 299 million monthly active users. This corresponds to an impressive 29% annualized growth and 5% quarterly growth.
Needless to say, this is a record not only for Spotify, but for the market as a whole.
Users, mln II sq. 2019I quarter 2020II quarter 2020Total monthly active users (MAU) 232286299Premium subscribers108130138Free account holders with ads129163170
Spotify’s paid subscribers grew from 108 million to 138 million over the year. Spotify’s closest competitor in terms of paid subscribers is Apple Music. Apple last shared statistics in June last year – then it was reported that the number of paid subscribers to the music service Apple Music exceeded 50 million people.
Revenue from the sale of paid subscriptions also increased. For Spotify, the quarter ended with a 13% increase in revenue to € 1.9 billion. Operating income increased by 10%, reaching € 479 million. Of the key financial indicators, only free cash flow reduced from operating cash flow of capital expenses decreased. mainly due to the “continued uncertainty due to COVID-19”.
39% of Spotify premium users are from Europe, followed by North America with a 29% share.
Spotify was introduced in 2006. It is now the largest streaming service in the world. It operates in 92 countries and controls a third of all revenue and paid subscribers in the music streaming market.
Source: Spotify
