“Spotify Reaches Record 515 Million Monthly Users, Including 210 Million Paying Subscribers”

Spotify continues to grow in number of users. The Swedish streaming app reached a new record of users per month. on this occasion They have already reached 515 million users assets per month, figures from March 31. This is a growth of 15 million more than expected by the company itself.

Spotify already has 515 million monthly active users

These figures imply a growth of 22% compared to the same period last year. In addition to also rising compared to the previous quarter.

New user record

This is the number of users in general, but also the number of paying users on Spotify has increased. The platform already has 210 million paying users Worldwide. This is a growth of 10 million compared to the previous quarter. This growth is largely due to the many offers and promotions that the platform usually organizes. In fact, the average income per user is about 4.32 euros.

Despite these good figures in terms of users, the company still does not generate profits, since it has announced a net loss of 225 million euros. Although this figure is somewhat lower than that of the previous quarter, they are still not really profitable. In addition, its quarterly income of 3,040 million euros is lower than what analysts expected.

Spotify will lay off 6% of its workforce

This is one of the possible reasons why Spotify announced earlier this year the dismissal of a part of its staff. The company thus joined other names in the tech sector, which have made layoffs in recent months. The numbers of users could continue to grow, but it will be necessary to see if they finally manage to be profitable or not.