Spotify did it. The company now have more than 100 million users all around the world that pays for it’s premium service based on the announcement made by the company.
The company reached the new milestone after it was able to grow it’s subscribers by 32 percent year-on-year which also includes the free subscribers taking the whole userbase to about 217 Million monthly active users worldwide….which also includes about 2 Million Indians that immediately came aboard the service when it was launched just February 2019.
Apple which is it’s closest rival on the other end have about 50 Million paid users worldwide since the beginning of April but then Spotify trumps that userbase of Apple making it the number one music streaming service.
One of it’s ambition is the Podcast which the company intends to take right above all others throughout the globe. The company wants to also develop a better advertising model for podcasts which will also include “Targeting, measurement and of course reporting capabilities.”
What this will do is help the company develop a system that Podcast creators can use to place different type of advertisements on their content all based on the criteria they so choose be it user location or country.
Spotify recently acquired the podcasting companies Gimlet Media, Anchor, and Parcast, and currently offers a quarter of a million podcasting titles on the streaming platform. The ambition of the company never stops as it hopes to have about 222 to 228 million users which includes between 107 and 110 million paid subscribers before the end of this quarters.
Because the company knows the importance of voice speakers, it even gave out free Google Home Mini speakers to every family account subscriber eventhough there were rumors the company is making it’s own hardware speaker.
Spotify is still losing money despite its subscriber growth. The company posted a loss of €142 million ($158.3 million) for the January to March quarter, compared with a loss of €169 million in the same period last year