Spotify users now stand 140 million-strong
Spotify has improved on its monthly active user tally by 40 percent over the course of a year.
The Sweden-based music streaming service announced that it has 140 million tune consumers. The majority of that total are on a free tier that includes a forced shuffle mode, ad inserts between songs and limited skips. At least 50 million are paying subscribers and forego the above inconveniences.
But the company’s Vice President and Global Head of Sales Brian Benedik points out that the free tier was able to generate a 50.3 percent year-over-year bump in ad revenues between 2015 and 2016.
“When you pair the emotional power of music, podcasts, and videos with engaging ad formats, the creative terrain is rife with possibility,” Benedik said.
The company is rumored to list directly with the New York Stock Exchange next year, skipping over an initial public offering.