Spotify Hits Record High Number Of Paid Subscribers
Despite initial reports that music streaming has taken a hit during quarantine, Spotify has experienced a surge in paid subscribers and monthly active users.
Over the first quarter of 2020, Spotify has peaked at 130 million paid subscribers. However, just because these numbers are up, doesn’t mean people are listening more overall.
Spotify’s financial report explains:
While MAUs and Subs remained in line with our forecast and held steady, in hard hit markets like Italy and Spain, we saw a notable decline in Daily Active Users and consumption. But over the last few weeks, we’ve seen listening start to rebound, and in many markets, consumption has meaningfully recovered.
According to the report, the platform’s monthly active users have risen 31 percent in the first quarter. However, it’s up for debate how daily active users and weekly active users are holding up during quarantine.
Spotify is rather vague on this front:
…the ratio of Daily Active Users relative to Monthly Active Users was strong in the quarter.
It will take some time to fully understand how listening habits are being affected by the coronavirus (COVID-19) pandemic.
Source: BBC News | Spotify Financial Report
