Since the Swedish company has gone public, it seems that all the new functions and features they are launching are allowing it to gain new users at a much faster rate than it had before, in addition to expanding the distance with its maximum rival Apple Music.
Currently, as announced by Spotify, the number of paying subscribers is 96 million, figures that exceed those that the most optimistic analysts announced at the beginning of last year. At the moment, the second streaming music service is still Apple, although with only 50 million users.
These figures suppose an increase in subscribers of 8 million compared to the previous quarter, and an increase of 36% year over year. In addition, it also obtained its first quarterly operating profit during this last quarter. During the last quarter, Spotify expanded into 13 new markets, so it is currently available in 78 in total.
In 2018, Spotify generated revenues of 5.259 million euros, more than a billion dollars more than in 2017. But also, it also reduced its net losses, gone from 1.235 million to only 78 million.
Spotify started 2018 with 70 million users. Throughout 2018, it has managed not only to maintain that figure, but it has also achieved 26 million new subscribers. The company expects to reach 100 million paying subscribers in the next three months. Throughout 2019, Spotify expects to reach between 117 and 127 million subscribers.
If we take into account that it is increasingly common for users to hire streaming music services, and that this trend is increasing, not only will Spotify see an increase in the number of subscribers, but also the music platform in streaming from Apple, a platform that throughout 2018 It seems that it has had a small stop in terms of its growth.
