Spotify now boasts 155 million premium subscribers and 345 million monthly active users, according to its latest earnings report released today. Those numbers represent a 24 percent and 27 percent year-over year increase. Its biggest increase was in ad-supported monthly active users, which rose 30 percent to 199 million. Last quarter, it reported having reached 144 million subscribers, and 320 million monthly active users.
However, despite the growth in listeners, The Wall Street Journal notes that the average revenue per user fell by 8 percent to €4.26 (around $5.13) compared to a year ago. That’s because of the discounted plans used to lure in new subscribers, and the lower prices it charges in markets like Russia and India. Ad revenue…
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Author: Jon Porter