Spotify remains one million of the 300 million monthly users

While at Apple it seems that they do not want to announce numbers about the number of subscribers again of its streaming music service, the Norwegian company Spotify, has just announced its financial results for the second quarter of 2020, a quarter marked by the coronavirus and which indicated that it would not be very good.

Three months ago, when Spotify announced financial results for the first quarter of 2020, the number of paying subscribers was 130 million. 3 months later, that figure stands at 138 million, averaging almost 3 million new subscribers every month.

If we add the number of users of the version with ads to the number of Spotify subscribers, 161 million users, makes a total of 299 million monthly active users, which represents an increase of 29% compared to the same period of the previous year. If we only talk about paid users, the increase compared to the previous year is 27%.

According to the Swedish company, watch activity is back to normal before coronavirus, except in Latin America, where reproductions have been reduced by 6%. Despite the spectacular figures, advertising revenue fell by 21%, confirming once again the negative impact that the coronavirus has had on all media that make a living from ads.

CNBC states that Spotify posted a loss of 35 million euros, losses greater than they expected and which are due to the taxes it has had to pay in Sweden, where it is based, due to the increase in income from the price of shares, an increase that stood at 126 million euros .

This is due to Spotify has to pay 31,42% to the country's government for any benefit an employee obtains by exercising stock options or acquiring restricted shares. While Apple, Microsoft, Amazon, Google and others continue to pay less than 1% in Ireland ... It would not be strange to see how in the future, Sweden is left without the headquarters of its most recognized brand in the world, along with Ikea.