The number of Spotify users will soon reach 300 million. The number of paying subscribers is now $ 138 million.
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The number of users of Spotify continues to grow in spite of the pandemic. The number one music streaming has just presented its results for the second quarter of 2020, and these indicate that the platform is on the point of reaching 300 million users. More specifically, Spotify now boasts more than 299 million active users per month, which represents an increase of 29% compared to the number of users in the second quarter of 2019. The number of subscribers to the service offered has also increased. Today, Spotify account 138 million subscribers, which represents an increase of 27 % year-on-year.
As reported by the site TechCrunch, Spotify also mentioned a gradual return to normal of the time spent on the app. As a reminder, due to the confinement, many users had lost their routines, and this has had an impact on the way they use Spotify. But visibly, things get back to normal. On 30 June, the time spent by users on Spotify had returned to normal levels, except in Latin America.
As a reminder, the european giant has decided to become the equivalent of YouTube for the audio content, adding podcasts to the music that was already available on the platform. And currently, it has 60 million of securities, as well as more than 1.5 million podcasts. In order to be positioned on this sector in full boom, Spotify will cease to invest. For example, in may, Spotify has dropped the exclusivity of The Joe Rogan Experience, one of the most downloaded podcasts in the United States.
But all the news is not good. Spotify reported that its revenue increased 13 % to $ 1,89 billion euros, which is below the forecasts of analysts. This is caused by a low demand from advertisers, while Spotify monetizes its service with advertisements to the users who do not have a premium subscription. Nevertheless, between the months of may and June, the situation has already improved a little.
Next step, video ?
As we mentioned earlier, Spotify update today on the podcasts to build up its streaming service. And if the company already has a good hearing for audio podcasts, recently, it has announced a new feature that allows you to watch video podcasts.
The idea is to enable creators to supplement their content with video. But it is always possible to follow the same podcast without the video part. And for the moment, the video-on-Spotify is not yet available for a small list of creators.
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