Spotify pledges to reach 400 million users by the end of the year

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In another tweet, Internet music service Spotify billed itself as the number one podcasting platform in the United States. This data was indirectly confirmed by the Wall Street Journal. It mentions an increase in podcast ad revenue from Spotify of 10% to 13% of the platform’s total revenue.

In the same Spotify assured that “the share of podcasts in the total number of hours of consumption has reached a record high” this quarter. In numbers, this is 3.2 million – 300,000 more than a quarter earlier. The data was confirmed in a report by market analysts from Edison Research.

At the same time, Spotify remained the world’s largest music streaming service, surpassing its closest competitors – Amazon Music and Apple Music (55 million and 60 million subscribers, respectively) – by an order of magnitude. Spotify has 365 million subscribers, of which 165 million are paid. At the same time, for the quarter, the average revenue per subscriber at Spotify increased from 4.29 to 4.34 euros. Quarterly profit was € 2 million, compared with a € 101 million loss in the same quarter a year ago.

The growth of the audience allowed Spotify to announce that it will reach 400 million users by the beginning of next year. In fact, the service will cover 5% of the world’s population. Perhaps things will go even faster if Spotify does launch its HiFi service, promised back in February, but nothing is known about the state of affairs in this direction. However, there is still time until the end of the year.