Spotify now globally has 100 million paid subscribers, this is double the amount of the last Apple Music subscribers report in January.
In Spotify’s latest earnings report, they announced the number of paid subscribers they currently have. Spotify has 217 million active users and 100 million paid subscribers. Approximately 46% of Spotify’s subscriptions are now paid subscriptions.
Monthly Active Users grew 26% Y/Y to 217 million, slightly lower than the midpoint of our 215-220 million MAU guidance range [”¦]
Premium Subscribers grew to 100 million, up 32% Y/Y, reaching the high end of our guidance range of 97-100 million, and marking an important milestone in Company history.
Although these numbers are great, a lot of these subscriptions are because of promotions the company offers.
Outperformance was driven by a better than plan promotion in the US and Canada and continued strong growth in Family Plan. We also saw strong growth from the expansion of our Google Home Mini promotion, as well as the price reduction to our Spotify Premium + Hulu offering in the US.
In March, we extended our partnership with Google by expanding our Google Home Mini promotion to two new markets, the UK and France. The new promotional offer is substantially similar to the deal offered in the US in Q4. In the UK and France, new and existing Family Plan master account holders can claim a free Google Home Mini voice speaker [”¦]
Additionally, we expanded our partnership with Hulu during Q1 by offering their limited commercial plan to our Standard $9.99 subscribers at no additional charge. This promotion replaces our existing $12.99 Spotify + Hulu bundle and builds upon the success and popularity of our Spotify Student + Hulu plan available in the US.
Apple Music also offers promotions like the six-month free trials, family discounts, and student discounts. But Spotify goes even further than this, they offer users $1/month for a couple of months even after the free trial.
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