Spotify becomes first music streaming service to reach 100 million paid user markhttps://indianexpress.com/article/technology/social/spotify-now-has-100-million-paid-subscribers-globally-5701302/

Spotify becomes first music streaming service to reach 100 million paid user mark

Spotify, the world's biggest streaming service, now has 100 million paid subscribers.

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Paid subscribers now make up almost half of Spotify’s 217 million user base, with 117 million users use the free version of the service.

Spotify now has 100 million paying subscribers, the company revealed in its Q1 earnings report. That’s up from 96 million at the end of 2019, and 75 million a year ago. By comparison, Spotify’s biggest competitor, Apple Music, surpassed 50 million paid subscribers during the December 2018 quarter.

Paid subscribers now make up almost half of Spotify’s 217 million user base, with 117 million users use the free version of the service. According to the company, paid subscribers increased by 32 per cent year-over-year compared to last year.

In a statement, the company said: “Premium Subscribers grew to 100 million, up 32 per cent year over year reaching the high end of our guidance range of 97-100 million, and marking an important milestone in Company history.”

Overall, Europe accounts for 36 per cent of its users, while 29 per cent of its users come from North America. Latin America accounts for 22 per cent, while the rest of the word is at 13 per cent.

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Also read: Top music streaming apps in India: Spotify, Apple Music, JioSaavn and more compared

Spotify also made a special mention of India where it has now more than 2 million users. It said more than 1 million users signed up for Spotify in the first week in the market.

According to Spotify, “voice speakers are a critical area of growth, particularly for music and podcasts.” The company said it plans to continue to pursue opportunities to expand our presence in that area.

Spotify, the world’s biggest streaming service, is now available in 79 countries worldwide.