Spotify Hits 155 Million Paid Subscribers in Q4, Says Podcast Listening Nearly Doubled
Todd Spangler, provided by
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Spotify packed in a strong end to the year roiled by the pandemic, topping forecasts for Premium subscribers to reach 155 million (up 24%) in the fourth quarter of 2020 adding a record 30 million for the year. The audio streamer’s total users grew 27%, to 345 million in Q4, after netting 74 million in 2020, also a record.
The company touted its podcast strategy and reiterated its belief that the strategy is paying back, despite some skeptics on Wall Street. As of Q4, Spotify had 2.2 million podcasts on the platform (up from 1.9 million podcasts the prior quarter and up more than threefold year over year). The company said 25% of its total user base engaged with podcast content in the quarter (up from 22% in Q3 and 16% in the fourth quarter of 2019). In addition, podcast consumption hours in Q4 nearly doubled year-over-year.