Spotify’s premium users arrived 155 million: It will continue to prioritize user growth rather than profit

Spotify, the world’s most popular music streaming service, recently launched data on subscribers. The data shows that Spotify currently has 345 million active users.

Unlike Apple Music, Spotify also provides customers with free advertising support. The service now has 199 million users, a 30% increase from the 153 million reported at the end of 2019.

Currently, Europe and North America are still Spotify’s largest and most valuable markets. The former has benefited from the recent expansion in Russia and surrounding markets. Judging from user data, Premium Family and Premium Duo plans are also very popular.

Spotify’s attention to podcasts seems to be playing a role. There are now 2.2 million podcasts on the platform, and the consumption time has almost doubled.

But the high growth comes at a price. The service lost 125 million euros last quarter, but it was an improvement from the 209 million euro loss reported in the fourth quarter of 2019.

However, Spotify’s whole revenue was 2.17 billion euros, higher than the 1.86 billion euros in the same period last year. Spotify announced that in the future, it will extend to prioritize user increase rather than profit.

(Source)