Active Spotify Users Translucent 320 Million People

JAKARTA - Music streaming platform Spotify, announced the number of monthly active users that has increased to 320 million people. This increase occurred in the third quarter of this year.

Quoted from the page The Verge, the increase in users by 29 percent, making Spotify superior to Apple Music, which has 60 million subscribers based on June 2019 data. Including Spotify's premium service subscribers, which grew 27 percent or reached 144 million.

"We are seeing strong customer growth in all regions by taking advantage of the addition of our new markets in Russia and the surrounding region," wrote Spotify in a statement, Friday 30 October.

Spotify until now still provides a free version, users can still listen to music interspersed with advertisements. This increase in users exceeded the expectations of Spotify, which estimated the number to reach 317 monthly active users.

Spotify also revealed a prediction for the company's financial performance in Q4 2020. This music streaming service is targeting 340 to 345 million monthly active users.

Total premium subscribers are targeted to reach between 150 and 154 million. Meanwhile, the amount of time spent listening to music on Spotify exceeded the period before COVID-19, in the third quarter.

A growth prediction is also believed for Q4 2020. The company expects total revenue to be 2 to 2.2 billion euros, with a gross margin of between 24.2 and 26.2 percent.