Spotify on Wednesday released its fourth-quarter earnings report, revealing that 2019 saw a steady increase in user growth and popularity for the music streaming service.
In fact, here are 10 interesting revelations from the report you should know about.
Spotify now has more than a quarter-billion users worldwide
The company saw a 31% increase in users compared to 2018 and now boasts 271-million monthly active users.
124-million people are now subscribed to the service
Spotify saw a 29% increase in subscribers in 2019 compared to 2018.
There are now more than 700 000 podcasts on the platform
The company has noted “exponential growth” for podcasts on its platform, this after it opened its doors to the format last year.
16% of the service’s active users listen to podcasts
According to the company, that’s a 200% growth in podcast consumption.
26 new podcast shows were released in Q4 2019
As podcasts become more and more popular, Spotify continues to invest in the market.
The company made a total revenue of €1.8 billion in Q4 2019
This was a 24% increase as compared to 2018’s €1.4 billion.
Most subscribers and active users come from Europe
In fact, Europe is home to 40% of subscribers and 35% of monthly active users.
The streaming service is now available in 71 markets around the world
After launching in India in 2019, the company has expanded even further. Its Lite app is also now available in 36 markets around the world, South Africa included.
Over 500 000 musicians now use Spotify for Artists every month
The feature allows artists and creators to connect with their listeners by promoting themselves and their music.
The company is aiming for at least 328-million active users by the end of 2020
It also expects over 143-million paying subscribers by the end of the year too.
You can read the full report here for more.
Feature image: Spotify