When it comes to paid subscribers, Spotify is now the king. The Swedish music streaming platform announced during a 2019 1Q financial performance review that it now has 100 million premium subscriptions surpassing Apples 50 million.
Just earlier this month it was reported Apple held the title.
Spotify also reported a year-on-year increase of 32 percent alongside the impressive feat. The company also managed to pull in an additional two million users pushing its active monthly users to 217 million despite its launch in India hitting a roadblock in the form of being slapped by with a copyright lawsuit by Warner Music.
Spotify is expecting by the end of 2019 2Q to see its active monthly users worldwide increase to between 222 to 228 million, and its paid subscribers hit 107 to 110 million. The company also announced it’s looking to expand its and significantly upgrade recently acquired Grimlet Media, Anchor, and Parcast podcast lineup as well as its free ad-supported music streaming service.
Despite all the good news the company boasted about, Spotify still suffered a USD 159 million loss during the first quarter. Also while leading globally, Spotify is taking an L in the US market with 26 million paid subscribers compared to Apple’s 28 million paid subscribers.
Just more news to keep the music streaming wars interesting, this news comes on the heels of Amazon making a push for Spotify’s spot with the recent quiet release of its own ad-supported free music service to Alexa-enabled smart speaker owners.
Photo: LIONEL BONAVENTURE / Getty
Spotify Is Now King With 100 Million Paid Subcribers, Passes Apple was originally published on hiphopwired.com