Spotify Premium has over 188 million subscribers
Spotify continues to grow. The company has reached the milestone of 188 million subscribers to its premium service.
188 million users subscribe to Spotify Premium , out of a total of about 433 million who use the app every month to listen to music. In one year, subscribers grew by 14%, while active users grew by 19%.
The company, announcing the performance of the quarter just ended, explained that this is the most important growth ever recorded during a second quarter, which has always tended to be subdued compared to the rest of the periods of the year.
Spotify, recalls The Verge, has invested a lot of resources in original podcasts over the past few years. Yet in 2022 things did not always go the right way: recently the company was unable to renew its contracts with Reply All, one of its most followed podcasts, and with the Obama family, which will switch to Amazon’s Audible.
During Q2 2022, Spotify recorded a loss of 125 million euros. The company said it still wants to prioritize subscriber growth over profitability. On average, Spotify records 4.54 euros in revenues per active user. During the conference Spotify did not provide new information on the release of Spotify HiFi , the new subscription that will allow you to play music at a higher audio quality.