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Spotify now has 130 million subscribers Premium

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Published on Apr 29, 2020

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Spotify now has 130 million subscribers Premium

The number of subscribers Premium Spotify has reached 130 million in the first quarter of the year, an increase of 31% on an annual basis. Revenues increased by 22%, with both the metrics that have exceeded the expectations of analysts. Currently the service has more than double the subscribers of Apple's Music stopped 60 million.

At the beginning, it was not clear what impact the Coronavirus could have on the demand for music streaming services such as Spotify and Apple's Music.

A report says that, with more people stuck in the home, the demand for all forms of entertainment streaming is expected to increase, while another, higher unemployment and economic uncertainty may reduce demand.

Surprisingly, it seems that both reports are right. Spotify has told the WSJ that people have canceled the subscription for the above reason.

The company has stated that the respondent sl six to the survey in the United States has cited the reasons related to Covid for the cancellation of their accounts, with over 80% indicating that it is extremely likely that renewals once the economic situation improves.

But the increase in demand seems to have balanced the losses:

“Despite the global uncertainty around COVID-19 in the first quarter, our business has met or exceeded our predictions for all major metrics,” wrote the company in its introduction to the shareholders. “For the second quarter and the rest of the year, our outlook for most of our key performance indicators remained unchanged, with the exception of income, where a slowdown in the advertising and significant changes in exchange rates are having an impact.”

Spotify has recently noticed that we are listening to different music during the lockdown.

During this period, the brand also has noticed that the songs that the listeners of Spotify, in addition to their playlist are more “cold“, which means that they are more acoustic, less danceable and have less energy compared to the songs that you previously added. Also, the music tends to be more instrumental.

Remember that Apple reports the numbers of subscribers of Apple only when they reach increments of 10 million.

From this, we can deduce that the number of current subscribers has not been reached 70 million.

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