Twelve months after it first reached 75 million subscribers, Spotify has today announced that 100 million users now pay for its Premium service across the globe. The news represents year-on-year growth of 32% and has helped push Spotify’s revenue figures up an equally impressive 33% to €1.51 billion ($1.67 billion).
Including users of Spotify’s ad-supported service, the streaming company now has a total of 217 million monthly active users. This figure is up 10 million from last quarter and 44 million when compared to twelve months ago.
Once again, Europe continued to be Spotify’s most important market followed by North America and Latin America respectively. In North America especially, Premium subscriber growth was driven by Spotify’s continued partnerships with Samsung, Google, and Hulu.
Specifically, Samsung agreed to pre-install the Spotify app on millions of its smartphones including the recently-released Galaxy S10, buyers of which receive six months of free Spotify Premium. Google, on the other hand, offered Spotify Family Plan users a free Google Home Mini, a promotion which has since been expanded to both the UK and France due to its popularity. Lastly, Hulu and Spotify recently lowered the price of their bundle offer which has boosted interest.
By the end of this current quarter, Spotify expects to have between 222 and 228 million users, of which 107 to 110 million should be Premium subscribers. Driving this growth will continue to be promotional offers like the ones mentioned above and India, where Spotify registered 2 million users in the month following its launch.
