Spotify app icon - Music and Podcasts

Spotify now has 124 million paid subscribers, twice as much as Apple Music

The recent Spotify in the podcast market is having an effect. In his last financial report [PDF], referring to the fourth quarter of 2019, the company reported that the number of paid service subscribers grew 29%, reaching 124 million users – how did the Reuters. Comparatively, the Apple Music has – according to the latest survey, in mid-2019 – 60 million subscribers.

Spotify’s good growth does not stop there: it expects to reach somewhere between 126 and 131 million users by the end of March. Even though subscription promotions have played a key role in this growth (some of these new subscribers, for example, are not yet paying for the service in fact), the main responsible for this increase is the company’s onslaught on podcasts.

To enter this market, Spotify invested US $ 500 million in order to attract more and more users to its platform; today, more than 700 thousand programs are available – including MacMagazine On Air, of course. In the statement, Spotify also said it acquired Ringer, a network of sports and entertainment podcasts, for an undisclosed price.

In addition to these 124 million subscribers premium, Spotify also has 153 million users of its free service, supported by advertising (even so, 90% of the company’s revenue comes from paid subscribers). Revenue for the fourth quarter of 2019 increased to 1.86 billion euros (comparatively, in 2018 it was 1.5 billion euros). Still, average revenue per user fell 5% and is expected to continue falling throughout 2020, according to the company’s chief financial officer Paul Vogel.

Will Apple Music be able to keep up with the growth rate of Spotify subscribers? Meanwhile, who is also doing beautiful is Amazon Music, which has already passed the barrier of 55 million users.


Spotify app icon - Music and Podcasts


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via 9to5Mac