Spotify gains 30% paid subscribers in one year, falls short of expectations
Music streaming giant Spotify today reported a better-than-expected second quarter, with revenues rising to 1.50 billion euros ($1.67 billion). 90 percent of this revenue comes from its paid subscribers, which now account for 108 million users, up 30 percent from the year before, but still .5 million less than what analysts have predicted.
However, when it comes to monthly active users, Spotify managed to exceed expectations. Instead of the 227.7 million users predicted, Spotify now has 232 million monthly active users, which combines paid subscribers with those using the free/ad-supported version of the service.
Third quarter predictions mention anywhere between 240 million and 245 million monthly active users, but analysts predicted that the number would be reached at this particular point, at the end of Q2.