It became known that in the second quarter of this year, the number of paid subscribers to the popular music service Spotify increased to 188 million people, and the number of monthly active users during the reporting period was 433 million people.
The announced numbers show that Spotify’s paid and monthly active subscribers are up 14% and 19% year over year, respectively. This is also comparable to the first quarter when the number of paid subscribers was 182 million people and active users were 422 million people. The company noted that during the reporting period, the number of monthly active users grew at a record pace, exceeding the forecast number.
Spotify’s report states that the company posted a loss of $127 million in the second quarter. The platform’s average revenue per user is $4.60, up from $4.44 per user last year .
At the same time, the company sees audio books as another area of growth. Previously, Spotify became the owner of the audio book platform Findway, which allows authors to publish their books and make money from them. Additionally, Spotify has yet to announce the Spotify HiFi plan price or launch date. The ability to listen to high-quality music should help the service attract new users.