Spotify Hits 144M Paid Subs, Ad Revenue and Consumption Recover After Pandemic Slump

'Global consumption hours surpassed pre-COVID levels during the quarter, and all regions have fully recovered,' says the music streamer, led by CEO Daniel Ek.

10/29/2020 1:18:00 PM

Music streamer Spotify ended September with 144 million paid subscribers and 320 million total active monthly users. Ad revenue returned to growth, and 'global consumption hours surpassed pre-COVID levels' – 'all regions have fully recovered.' Details:

'Global consumption hours surpassed pre-COVID levels during the quarter, and all regions have fully recovered,' says the music streamer, led by CEO Daniel Ek.

Spotify CEO Daniel Ek"Global consumption hours surpassed pre-COVID levels during the quarter, and all regions have fully recovered," says the music streamer, led by CEO Daniel Ek.Music streaming giant Spotify on Thursday said that it ended its third quarter with 144 million premium, or paid, subscribers and 320 million total active monthly users as of the end of September. The figures were at or above the high end of the company's forecast range.

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That was up from 138 million premium users as of the end of June and from 299 million total users. In the third quarter of 2019, it had added 5 million premium and 16 million total users.For the third quarter, Spotify management had predicted monthly active users to grow to 312 million-317 million, with premium subscribers to reach 140 million-144 million.

"From a content consumption standpoint, global consumption hours surpassed pre-COVID levels during the quarter, and all regions have fully recovered," the firm said.Premium subs grew 27 percent year-over-year, with the company saying:"We saw strong subscriber growth across all regions, with added benefit from our new market launches in Russia and surrounding territories. Russia has been our most successful new market launch to date and represented the largest portion of subscriber outperformance for the quarter. Additionally, we saw strong performance from the global rollout of our Duo product, with the Duo subscriber growth exceeding our expectations."

Spotify, led by CEO Daniel Ek, said advertising revenue returned to growth, with ad-supported revenue rising 9 percent, or 15 percent in constant currency terms, after posting declines earlier this year due to the coronavirus pandemic. Read more: Hollywood Reporter »

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And they're still are so desperate they give joerogan a platform to spread Alex Jones conspiracy lies. Yet another reason to not use Spotify.

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