It’s not a total surprise that Spotify is reporting these numbers. Many of us, especially during this time, have relied on Spotify to help us keep, well, sane. Even though it’s being reported that the growth slowed a bit compared to last year, the company has reported that it has added 11 million new monthly active users to its roster. At the time of the report, Spotify has 356 million total users (up from 345 million). That means that the company has seen an 24% increase. In return, that means that revenue for the streaming service is up 16% for quarter one of 2021. Paid subscribers is up to 158 million.
Another thing to note is the user engagement with podcasts. The analysis notes that Spotify boasts 2.6 million podcasts, which is up from 2.2 million in Q4 in 2020. However, the percentage of the monthly acive users that engaged with podcast content on the platform remained the same.
And finally, predictions for Q2 have been released. Spotify expects to have between 355 million to 373 million monthly active users. They also expect to have an increase in premium subscribers to between 162 to 166 million. No matter what, the streaming service will continue to remain at the top.