Spotify now has nearly 300M monthly active users, 138M subscribers

published 29.07.2020 16:01

In its latest Q2 results Spotify stated: Our business performed well in Q2 and continues to operate at a high level despite the continuing uncertainty surrounding the COVID-19 pandemic.

As mentioned, the results show Spotify now boasts 299 million monthly active users, a 29% increase on last year.

Reflecting on the pandemic, Spotify says that listening activity has now returned to pre-COVID levels everywhere except in Latin America, where listening is down around 6%.

Despite growing figures, Spotify's ad revenue fell by 21%, as COVID-19 continues to impact the sector.

Spotify says the "higher-than-expected" charges relate to strong gains in Spotify's stock price and came in 126 million euros higher than planned.

by Stephen Warwick from feeds.imore.com

Free awesomeness straight to your inbox!

Sign up now for this free newsletter to receive hand picked content, covering topics like Lifestyle, Business & Technology.

Free Newsletter Sign up now!

..or jump directly to the latest posts!