The pandemic of Coronavirus has changed our consumption habits, its effect has been such that even the consumption of streaming music has decreased due to mobility restrictions, at which time more music is consumed. Now, with the return to “normality”, Spotify guys have just reported a large increase in users that denote a return to normality. Of course, it seems that they do not stop watching their competitors and investments in exclusive podcasts may hurt the growth of the company. After the jump we give you all the details of the good Spotify data.
As we say, Spotify is unstoppable. If that they had some losses at the beginning of the Coronavirus pandemic because consumption habits They were changing due to global confinement processes. Now, with the return to the new normal, it seems that the number of users is recovering in practically the whole world, and they would have reached figures that many would like: 299 million users, 138 of whom are subscribed users, paid users.
Total monthly active users grew 29% to 299 million, and Spotify Premium subscribers worldwide grew 27% to 138 million […]
According to Spotify, after a “modest” drop in consumption hours due to the COVID-19 pandemic in the first quarter, as of June 30, “global consumption hours have recovered to pre-pandemic levels” . At this time, all regions of the world, including North America and Europe, have “fully recovered”, with the exception of Latin America, which is approximately 6% below the maximum levels prior to the global health crisis, the company said.
Spotify forecasts continued user and subscriber growth through the second half of 2020. For the third quarter, Spotify expects total monthly active users to be 312 million-317 million and Premium subscribers to be 140 million-144 million. For the fourth quarter, the company projects a total of 328 million-348 million and a total of Premium subscribers of 146 million-153 million.
Good data for Spotify that serves to deal with the controversial purchase of podcast rights The Joe Rogan Experience, a well-known podcast that now becomes an exclusive part of the Spotify catalog. A purchase that in the end It has meant Spotify $ 126 million, a figure higher than initially estimated to be $ 100 million. Investment that has been a great expense for Spotify but that they plan to recover due to the large number of followers that Rogan’s podcast has. In addition, the incorporation of video podcasts after this acquisition has been positive. We will see how the platform’s users behave …