Spotify passes an important milestone

Today, Spotify, which has become an indispensable part of the music world, continues to rapidly increase the number of users.

Moreover, not only those who use the platform for free, but also those who subscribe to the platform for a monthly subscription fee are increasing rapidly. While the Sweden-based company announced the reports of the last fiscal quarter yesterday, it also shared the current number of subscribers and users. This information shared by the company shows that Spotifyhas left behind another important milestone in the number of subscribers.

As of today, Spotify has 665 million monthly active users worldwide. Among them, the number of paid subscribers to the platform has exceeded 250 million. Surpassing the 250 million threshold, Spotify has 260 million subscribers as of today.

This shows that the company reached 13 million new users in the last quarter, about 5 million of which were paid subscribers.

Although the company’s profits have declined for several quarters due to the significant expenditures it has recently made for growth, this situation has begun to stabilize with the increase in revenue in the last quarter. The increase in both the number of subscribers and active users was reflected in the company’s revenues. In addition, the increases made in recent months have also increased revenue. The company’s total revenue in the last quarter was announced as 4.1 billion dollars.

These impressive figures announced by the company were also reflected in the shares. Shares gained 8 percent after the announcement of the third quarter’s financial report.