Spotify Has 500 Million Users for the First Time

For the first time, music and podcast streaming giant Spotify has over 500 million active monthly users. That’s according to the latest investor data, showing that 210 million users subscribe to the premium offering, while 317 million people listen through the ad-supported model.

Crunching the Numbers

Crossing the 500-million line represents a 22-percent increase in listeners over the last 12 months, even beating Spotify’s own projections. The company aimed for 500 million users in the first quarter of this year but ended with 515 million.

Spotify also added 3 million more premium subscribers than it forecasted. But while those subscribers earned the company $2.9 billion in revenue, it’s still operating in the negative. The information shared with the shareholders highlights the $171 million operating loss for the quarter. The loss was accompanied by an explanation that it was the result of “higher personnel costs due primarily to year-on-year headcount growth.”

European users are still the largest group of listeners, accounting for about 30 percent of the active monthly users. North America makes up about 20 percent, Latin America 21 percent, and the rest account for 28 percent.

But where are the most Spotify Premium subscribers from? That again turns out to be Europe with 39 percent, while North America accounts for about 28 percent, while 21 percent of premium subscribers live in Latin America.

Compared to the Rest

It’s a significant occasion for Spotify, but how does it compare to some of the other streaming platforms? It’s surprisingly difficult to get exact numbers on Apple Music, Pandora and Amazon Music.

According to Pandora statistics, Pandora had 50 million monthly active users by the end of last year, and Apple Music had 88 million paid subscribers. Apple’s offering is more popular among mobile phone users in the U.S., but Spotify is the go-to choice for Europeans.

Image credit: Spotify