Spotify Now Has 124 Million Subscribers

Posted on February 5, 2020 by Mehedi Hassan in Music + Videos, Spotify with 13 Comments

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Spotify today reported its earnings for Q4 2019, along with some other new stats. The company reported total revenue of €1.9 billion for the fourth quarter of 2019, which is up slightly from the last quarter.

Spotify’s total revenue has seen a 24% growth year-over-year, but the company posted an operating loss of €77 million in the last quarter.

The music streaming service also reported that it now has 124 million subscribers worldwide, growing 29% year-over-year from the 96 million it had back in 2018. The company said that its retention rate has improved in all of its top 20 markets, with monthly active users growing 31% year-over-year to 271 million. Amazon Music, on the other hand, has 55 million active users. The last time Apple reported Apple Music subscriber figures was back in June 2019, and the service had 60 million subscribers at the time.

Spotify has also been investing quite a lot into its Podcasts business, so the company is obviously highlighting the growth in that area, too. According to Spotify, podcast consumption hours has grown 200% year-over-year, which makes a lot of sense considering the fact that Spotify introduced a new interface that puts a lot of focus on podcasts.

The company also said that more than 60 million users engaged with its first-ever “My Decade Wrapped” experience, and its Year + Decade Top Songs playlists had more than 6.5 billion streams worldwide.

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