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There are now 100 million Spotify users active

Sweden-based music streaming company Spotify continues to rocket in popularity and in its debts. While it last announced that it had some 30 million subscribers paying for the service, — about double the number of Apple Music — its increasing revenues have not been able to cut into deficits it’s been growing.

First, the headlining and only new number we have: Spotify confirmed that it now has 100 million active users on its platform.

The fact that it lost some €173 million last year on revenues of €1.95 billion, there’s some wonder as to how much the ad-supported tier can really help at this point. Keeping in mind, though, that in addition to maintaining licensing deals with artists and labels, Spotify has also been investing in moving content to different servers and in sponsoring and building whole concerts out of whole cloth.

“What’s heartening is it is paying off in terms of subscribers,” said Alice Enders of Enders Analysis. “We think it’s made very good progress this year.”

In the meantime, Apple Music is making money on every customer it takes in.

Source: The Telegraph
Via: Engadget

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About The Author
Jules Wang
Jules Wang is News Editor for Pocketnow and one of the hosts of the Pocketnow Weekly Podcast. He came onto the team in 2014 as an intern editing and producing videos and the podcast while he was studying journalism at Emerson College. He graduated the year after and entered into his current position at Pocketnow, full-time.
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