Spotify is first music streaming service to surpass 200M paid subscribers
Spotify’s number of premium subscribers increased to 205 million as of December 31st, the company announced in today’s earnings release, representing a 14 percent increase year-on-year. That helped increase its monthly active users (MAUs) to 489 million, a 20 percent rise. That’s above its guidance from last quarter, when it said it expected to reach 202 million premium subscribers and 479 million MAUs.
The earnings release comes a week after Spotify announced layoffs affecting six percent of its company, or a little under 600 employees. But, much like other tech companies facing the same economic downturn, Spotify’s latest earnings release suggests its financial situation hasn’t significantly worsened in recent months. But as my...