Spotify is currently the largest music streamer in the world. Although the chain’s success was evident from the start, no one, not even the Swedes behind the brand, expected the numbers to grow so much in such a short time.
Although it was known that Spotify was going to be big since its launch, no one ever predicted that it would get this big, not even the founders of this music and podcast streaming phenomenon.
Spotify, record number of subscribers: how it wants to “keep you close”
Spotify is currently seeing a 19% increase in users opting for the free version, as well as a 14% year-over-year increase for those who chose to pay for a clean, ad-free subscription ( plus several other advantages).
Currently, the premium version of Spotify has 188 million subscribers, worldwide, while 433 million people still remain anchored to the free version which, as we mentioned before, has some disadvantages, but insignificant for some, it seems
The new subscriber growth has clearly exceeded the expectations of the company that owns Spotify. Despite the boom, it appears that it is still experiencing losses, in the second quarter losing more than 125 million euros.
And because extremes seem to be a characteristic that fits like a glove in Spotify’s case, here’s how revenue per user has increased.
Spotify will definitely continue to grow. As proof, the giant has new plans. Also included among these plans is a new playlist that will be called Friends Mix. This playlist will be an auto-generated playlist based on your friends’ favorite songs, giving the impression that the music is recommended by them, when in reality it won’t be.
At the moment, this feature is only available on iOS, and will be rolled out to Android users in the future.