Spotify’s monthly active users increased to 29% year-on-year, during their second quarter (Q2 2019) results call on 31 July. Also, the number of premium subscribers shot up to 108 million across the world.
As far as the Q2 revenue is concerned, Spotify notched up 1,677 million Pounds during the period – thereby representing a 31% year-on-year growth. Here, the revenue from premium subscriptions was reportedly 108 million registering an identical 31% year-on-year growth. Then, the ad-driven revenue was 165 million Pounds - registering a 34% growth in comparison to Q1 2019.
Spotify also registered an increase, in their podcast fan base, to greater than 50% quarter-on-quarter in 2019. Finally, the number of top tier artists (those representing the vast majority of streams) has grown another 36% to more than 30,000 (globally). Then, there were the tie-ups with two major label partners on renewing global sound recording permits. Discussions are said to be on with the remaining two label partners.
“During Q2, we launched a number of new product initiatives across our major regions. One of the major highlights was Spotify Lite more widely (presently in 36 countries), and this offering is now available in 36 markets,” stated a Spotify spokesperson.
At this point in time, it is worth remembering that Spotify’s Lite mobile application (app) custom-made for India has been active in India. USP of this application is that it occupies an average 11MB internal storage on mobile phones and is custom-made for uneven internet connections.