Spotify has reached a new milestone, with 220 million paying subscribers as of June 30, 2023.
This represents a 27% increase from the same period last year. The company’s monthly active users also grew to 551 million, an increase of 17%.
Spotify’s growth has been driven by a number of factors, including its expanding global reach, its focus on podcasts, and its aggressive pricing. The company has also benefited from the overall growth of the music-streaming market.
“We are very pleased with our continued growth,” said Daniel Ek, CEO of Spotify. “We believe that we are well-positioned to continue to grow our business in the years to come.”
In its latest earnings report, Spotify said that it expects to continue to grow its subscriber base in the coming quarters. The company also said that it is exploring new ways to monetize its users, such as through advertising and subscriptions to its premium podcast content.
