Spotify just announced the results of the first quarter of 2019 that are quite positive for the streaming service. More than 100 million users have a premium subscription on Spotify.
This represents a growth of 32% over last year. However, the most important detail is that Spotify overtook Apple’s competing Apple Music service, delivering a ‘white-glove snap’ to the apple company.
Apple Music is Spotify’s biggest competitor, with 50 million paid users worldwide. It is important to note that Apple’s music subscription service continues to be the leader in the United States but by a small margin of 2 million users.
Spotify has around 217 million active users globally. With 100 million paid subscribers, this means that around 46% of the users of the platform opted to pay the premium subscription. This represents a huge profit margin.
Spotify will continue to expand in the area of podcasts
There are those who criticize Spotify’s decision to bet on podcasts, but I do not see any legitimate reason for such criticisms. Recently, the company acquired Gimlet Media, Anchor and Parcast, important names in podcasts.
This type of content is in increasing demand and Spotify already offers about 25 million different podcasts on the platform. Among them is the 4gnews podcast, of course.
Spotify has already tried to wager on smart columns. The company had a promotion in 2018 where it offered a Google Home Mini column to Spotify Family subscribers. They have not yet developed any plans yet.
Despite all this success, the platform is losing money. Spotify posted a loss of $ 142 million between January and March. On the plus side, it is a smaller loss compared to 169 million in 2018.