The world’s leading streaming platform Spotify confirmed on Monday, that it has reached the milestone of 100 million paid subscribers during the first fiscal quarter.More than 100 million users worldwide now pay for Spotify Premium.
Now Spotify has a total of 217 million monthly active users worldwide including free subscribers.That includes two million users only from India who joined after the company launched its service there in February.
Currently Spotify is well ahead of Apple Music, its closest competitor, who had 50 million paid users worldwide at the beginning of April. Amazon has also launched an advertising-supported free music tier to its service.
“Competition is just not a big factor for us, it’s really all about growth,” Spotify Chief Executive Officer Daniel Ek said on a conference call after the release of the quarterly results. Ek reiterated the company planned to “keep on growing at more than 30 percent per year,” referring to revenue and users.
Spotify added four million premium users in just three months ending March 31, a 4 percent quarterly and 32 percent over the previous year’s quarter and now has 123 million total monthly active user, an increase of 6 percent on the quarter and 21 percent year over year.
Spotify says that by the end of this quarter, it expects to have 222 to 228 million users, including between 107 and 110 million paid subscribers. The company also says that voice speakers are a critical area for its growth.