217 million people are using Spotify worldwide
CAPE TOWN - Music streaming service Spotify released its Q1 2019 financial figures and it showed that the service is used by 217-million people globally.
The report stated that 100-million of those global users pay for premium access to the service which is an increase of 26% year-on-year.
It further stated that its revenue has increased the previous quarter, to €1.511-billion.
The company said in an investor report: ¨Outperformance was driven by a better than plan promotion in the US and Canada and continued strong growth in Family Plan.¨
“In April of last year we officially unveiled a new Ad-Supported experience on Spotify. The updated user experience provided greater consumer control and an increased focus on curation and personalization. The net result has been a 12% increase in Content Hours per MAU across our free tier. This means accelerating growth in ad inventory, which should mean stronger Ad-Supported revenue growth,” the company said.
Written by: Gabriella Steyn.
Guzzle Media
