Music streaming large Spotify on Tuesday introduced that the platform now has 220 million Premium subscribers and 551 million month-to-month lively customers, as of June 30. The corporate, in its Q2 earnings report, mentioned that the month-to-month lively customers surged 27 % to 551 million, and Premium subscribers grew 17 % (year-on-year) to 220 million.
Spotify CEO Daniel Ek additionally shared the figures on Twitter, thanking the workforce for his or her efforts.
“Due to the Spotify workforce for one more robust quarter and for powering our outstanding progress: 118M MAU and 32M subs during the last twelve months. Encouraging to see this progress towards what we specified by June 2022 at Investor Day,” he mentioned.
The second quarter earnings report comes lower than 24 hours after Spotify introduced to extend its costs within the US and several other different markets worldwide, just like value will increase seen by different music streaming providers, together with Apple Music, Amazon Music, and YouTube Music Premium.
In the meantime, the corporate made a number of cuts in 2023 after Ek said that the corporate’s priorities for the yr have been “velocity and effectivity”. It introduced in January that it might lay off 6 per cent of its international workforce, or about 600 staff; shut down Clubhouse competitor Spotify Stay and Worldle competitor Heardle in April; after which reduce one other 200 jobs from its podcasting division in June.
Earlier this month, Spotify began informing its customers who’ve subscribed to its Premium service by way of Apple’s in-app buy system that it’ll not help it as a cost methodology. Since Might 2016, the corporate has not allowed new Premium subscribers to pay for service by way of Apple’s in-app buy, citing the tech large’s “tax” on App Retailer purchases, studies Selection.