Since its inception in 2006 and entering the global music market in 2008, the Swedish music streaming service Spotify has managed to firmly establish its niche and become the undisputed leader in the global music industry.
The streaming platform periodically publishes data on the number of active monthly users and the number of paid subscribers. These numbers will not be identical because Spotify has a completely free and paid version, and the number of users of each of them is significantly different.
In 2022 alone, Spotify increased its user base by 19%. Financial results for the first quarter of 2022 show that 182 million Premium subscribers have signed up. The streaming platform also posted a net profit of €131 million in the quarter.
The company said in a statement that almost all of its key indicators were positive. The highlight is the number of monthly active users (MAU), which increased by 19% in the 1st quarter of 2022 compared to the entire previous year.
In total, the company, as of the end of the first quarter of 2021, has 422 million active monthly users. The administration of the Swedish music streaming service emphasized that it performed better in some markets, led by Indonesia, Brazil and Mexico.
Spotify also recorded growth in Premium, with the platform amassing 182 million subscribers in Q1 2022, according to the company. The annual increase is 15% (despite the growth of the total number of users, this does not always convert into subscriptions automatically).
In the first three months of 2022, the world’s most popular music and podcast streaming service raised €282m from advertising, up 31% on the same period in 2021. In total, the company registered 252 million accounts in the free plan (annual growth of 21%). The total gross income was 2.66 billion euros.
The company aims to end the first half of 2022 with 428 million monthly active users, 187 million of which will be Premium subscribers.