Paid Users Reach 83 Million, Spotify Is Far From Chasing Apple Music

Spotify has just released its second financial report after becoming a public company. In the report, Spotify reveals some important information, one of which is about the number of its paid subscribers which is creeping up so that it seems increasingly difficult to catch up Apple Music.

As a service streaming Of course, Spotify relies on paid subscribers to continue to record profits. Well, the latest report says that now Spotify's paid subscribers have crossed the 83 million mark, up from 75 million people in the previous quarter. This figure not only marks his dominance in the music streaming industry, but also once again distances himself from Apple's pursuit.

Spotify highlights the most significant growth in the number of paid subscribers contributed by emerging markets, particularly Latin America and Southeast Asia, where family plans are the most preferred. While year-on-year growth, Spotify's paid subscriber base increased by 40 percent from the same quarter in 2017.

In the same reporting period, Spotify had 180 million monthly active users including users who are still on the free service. Despite posting rapid growth worldwide, Spotify's profit balance per quarter is not something to be proud of because until now the company seems to be still focused on expanding the platform.

The operating loss for the quarter was EUR 90 million ($105 million), of which two-thirds was spent on escaping to the floor on the New York Stock Exchange earlier this year.

Meanwhile, Apple Music which is Spotify's biggest rival reported has pocketed 50 million users as of May 2018. Observers estimate that the number still has to be divided into two tier, 8 million each for users free trial, and the number of paid subscribers is 42 million.

news source Businesswire.