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Spotify now has 220 million paying subscribers (www.theverge.com)

submitted 1 year ago by Chozo@kbin.social to c/tech@kbin.social

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Spotify had 220 million Premium subscribers and 551 million monthly active users as of June 30th, the company announced today in its latest earnings report. That represents a 27 and 17 percent increase, respectively, compared to the same period last year and is above its outlook released last quarter.

But while listener numbers were up, Spotify reports that it’s making less revenue on average from each of them. In today’s release, Spotify says its average revenue per user currently sits at €4.27 (around $4.72), a 6 percent decline year-on-year and a slight fall compared to €4.32 (around $4.79) last quarter.

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[–] phantomxander@kbin.social 1 points 1 year ago

Big increases in users and a pay hike =(