Spotify has surpassed 300 million paid subscribers and 777 million monthly active users for the first time, marking a 12 percent increase from the previous year.
The platform recorded a 9 percent quarterly increase in its subscriber base despite introducing subscription price hikes in numerous countries this year and experiencing various application reliability issues. Alongside the growth in premium members and monthly active users, the company reported quarterly revenue of 4.8 billion euros, equivalent to 5.5 billion dollars, which represents a 14 percent increase compared to the same period last year.
Music streaming market rankings
Spotify remains the clear market leader in global music streaming. Tencent Music Entertainment holds second place with 127.4 million paid subscribers, while YouTube Music occupies third place with 125 million global subscribers.
Apple Music ranks fourth with an estimated 108 to 116 million subscribers, followed by Amazon Music in fifth place with 78 to 82 million subscribers. Other platforms including Deezer and TIDAL remain distant competitors, with each holding fewer than 10 million paid subscribers.
