Spotify’s variety of premium subscribers rose to 188 million in its second quarter, whereas its month-to-month lively customers (MAU) now sit at 433 million, the corporate introduced in an earnings launch in the present day. That’s a year-over-year enhance of 14 p.c and 19 p.c respectively, and compares to the 182 million and 422 million figures it introduced final quarter. The corporate says its progress in MAUs was its largest ever in a second quarter, and exceeded its steerage.

The earnings come on the finish of 1 / 4 wherein Spotify’s massive push into podcasts has skilled some hiccups. Considered one of its largest podcasts, Reply All, broadcast its last episode on June twenty third after co-hosts Alex Goldman and Emmanuel Dzotsi determined to depart manufacturing firm Gimlet. In the meantime, the Obamas, who signed a excessive profile podcasting take care of Spotify in 2019 not too long ago determined in opposition to extending the deal and can as an alternative work with rival podcasting platform Audible.

Spotify remains to be a podcasting behemoth because of exhibits just like the Joe Rogan Expertise and newer hits like Breaking Bread, and the variety of podcasts out there via its service continues to rise. However the firm is eying up audiobooks as its subsequent main supply of progress. It acquired audiobook platform Findaway final yr, and Spotify CEO Daniel Ek has known as audiobooks “an enormous alternative” for the corporate.

Spotify sustained a lack of €125 million (round $127 million) this quarter, although it tends to prioritize subscriber progress over quarterly earnings. Common income per person now sits at €4.54 (round $4.60), up/down from €4.38 (round $4.44) final quarter.

As soon as once more, the quarter handed with out Spotify saying a launch date or pricing for Spotify HiFi, a brand new higher-quality subscription tier it introduced over a yr in the past in February 2021. The tier is meant to supply lossless CD-quality music streams (much like what’s already supplied by opponents Apple Music and Amazon Music) and Spotify initially stated it will launch by the top of final yr. It’s unclear what’s inflicting the continuing delay.

Whereas Spotify is broadly thought-about to be the biggest music streaming service globally, lots of its largest rivals within the west don’t launch comparable subscriber numbers. The newest figures for Apple and Amazon’s music streaming companies compiled by Music Ally are a few years outdated at this level, however in 2019 Apple Music had round 60 million paying subscribers, whereas in 2020 Amazon Music had 55 million.



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