Spotify Hits a High Note with 100 Million Paid Subscribers
The Stockholm-based streamer has nearly twice as many premium users as Apple Music
Photo by Joe Scarnici/Getty Music News Spotify
Because nothing kills the mood(-based playlists) quite like an ad, Spotify revealed Monday they have hit 100 million paying subscribers.
The Stockholm-based streaming service referred to their first-quarter accomplishment as “an important milestone,” adding in a shareholder letter that they have reached “the high end of our guidance range of 97-100 million.”
Additionally, the number of Spotify’s total monthly users, which includes those who forgo the monthly fee at the cost of occasional ads, was totaled at 217 million, spanning 79 countries.
Comparatively, their biggest competitor Apple Music had about 50 million paying subscribers at the end of 2018. However, Apple is expected to release updated figures Tuesday, per the AP.
Spotify credits home voice speakers such as the Amazon Echo and Google Home as a “critical area of growth,” in addition to a continued focus on expanding their offerings of podcasts and auditory-based media beyond music.