Spotify remains the world’s largest music streaming service with the most amount of paying subscribers. It has been able to add 8 million new paying users in the quarter ending June 2019. As a result of that, Spotify now boasts a total of 108 million paying subscribers. However, the 8 million new users that it has added is slightly below the estimated figure of 8.5 million. “We missed on subs… That’s on us,” Spotify acknowledged.
Spotify also revealed in its earnings release that it now has more than 232 million monthly active users. That’s an increase from 217 million users in the quarter ending March 2019 when the company also had 100 million paying subscribers.
Spotify’s premium subscriber count also includes those who have begun a free 30 day trial even though some of them may decide to not continue with the service after their free trial ends. It has been running promotions twice a year to offer access to the premium tier for just $1 per month.
The market has also been interested in seeing how Spotify manages to perform in India where it launched its service back in February this year. It did pick up 2 million users there by April but the company didn’t say anything about its business in India during today’s earnings call.
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