Spotify Reaches 87 Million Premium Subscribers

On Thursday (Nov. 1), Spotify announced it currently has 87 million paid (premium) subscribers, and 191 million active monthly users. That 87 million-strong tier of premium subscribers is up from 83 million in the second quarter of 2018, and up from 62 million one year ago. Revenue for the third quarter was $1.54 billion, a 31 percent increase over last year, while ad-supported revenue rose $162 million, a 28 percent increase.

“Growth continues to be healthy across our family and student plans, and the strong retention characteristics of this base continue to drive churn lower,” the company said. “This quarter we offered to verified student subscribers in the U.S. our first-ever multi-partner bundle consisting of Spotify, Hulu and Showtime for $4.99 per month. In addition, we expanded our 3-for-99 cents intro offer campaign for our student plan globally during August and September to line up with the back-to-school season.”

Spotify also project paid subscribers to be between 93 million and 96 million in the fourth quarter, with between 199-206 million total monthly users.

The streaming service went public in April of this year.

 

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Jessica Nicholson serves as the Managing Editor for MusicRow magazine. Her previous music journalism experience includes work with Country Weekly magazine and Contemporary Christian Music (CCM) magazine. She holds a BBA degree in Music Business and Marketing from Belmont University. She welcomes your feedback at jnicholson@musicrow.com.

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