While Apple has spent more than two years sin updating the number of subscribers of your music streaming service, Apple Music, the Swedish company Spotify continues to increase the number of users, both of the free version and the paid version. According to the latest figures that the company has announced, the number of paying subscribers is 165 million.
If to those 165 million paying subscribers, we add the 200 million users of the free version, we see how the Swedish platform has a 365 million monthly active user base, which represents an increase of 22% compared to the same period of the previous year.
Spotify has achieved in the last three months, 7 million new paying subscribers, from 158 million that they had on March 31 to 165 million as of June 31, 2021. The increase in paid subscribers has increased by 20% compared to the same period last year.
According to the company, it currently has more than 3 million podcasts on its platform, a platform that is becoming increasingly important and that will allow the company to have, in the future, a source of income with a higher profit margin.
Among users who used podcasts in the second quarter, consumption trends were strong (an increase of 95% year-on-year overall and more than 30% year-on-year per user), while weekly and monthly retention rates reached all-time highs. During the quarter, the share of podcasts in total hours of consumption on our platform also reached an all-time high.
Spotify was marked on goal of reaching 400 million active users monthly by the end of this year. Of those 400 million active users, he expects between 177 and 181 to be paying subscribers. If we consider that each quarter it is gaining between 7 and 9 million new subscribers, Spotify’s growth forecasts are quite realistic.