Spotify adds 25mn users in Q4 aided by faster growth in India
By IANS |
Published on
Wed, Feb 3 2021 18:51 IST |
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Spotify (Credit: Getty Images). Image Source: IANS News
New Delhi, Feb 3 : Swedish music streaming platform Spotify on Wednesday said it added 25 million monthly active users in the fourth quarter of 2020 aided by better than expected growth in India.
The streaming giant also benefited from faster growth in the US and Western Europe.
Total monthly active users grew 27 per cent year-over-year to reach 345 million in the quarter, Spotify said.
The streaming giant ended 2020 with 155 million paid subscribers, a growth of 24 per cent over the past year.
Music Business Worldwide
February 3, 2021
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Spotify published its financial results for Q4 2020 today (February 3), revealing that its global Premium Subscriber base grew to 155 million in the quarter (ended December 31).
That was up by 11m subscribers (+7%) on the 144m that the company counted at the end of the prior quarter (Q3 2020), and up by 31m (+24%) year-on-year.
The company’s total global Monthly Active Users, (MAUs), meanwhile, grew 27% year-on-year to 345m in Q4 2020 and by 8% compared to the previous quarter (Q3) when the platform counted 320m MAUs.
Spotify’s Premium subscriber growth translated into Premium revenue of €1.887 billion for Spotify in Q4, which was slightly up (+5%) on the €1.790 generated in the prior quarter (Q3 2020) and up 15% year-on-year (see below).