Spotify hits 75 million paid subscribers as it releases first earnings

Spotify has just published its first earnings report as a public company, and contains an updated view of how many people use the music service. In total, Spotify has 170 million monthly active users and 75 million paid subscribers. That last total is above the 71 million mark in which Spotify ended the fourth quarter. On the contrary, Apple Music recently crossed 40 million subscribers. Currently, there are 99 million people who listen to Spotify through their free level of advertising followers. Spotify's revenues (€ 1.14 billion) were in line with expectations.

First-line subscribers will jump to between 79 and 83 million users by the end of the next quarter, according to Spotify's earnings prospects. And the company's prediction on how it will evolve during the rest of 2018 remains unchanged from the guidance it offered in March before its initial public offering; It expects to finish between 92 and 96 million subscribers.

Last month, Spotify unveiled a renewed experience for free users that will give them on-demand access to 15 selected playlists. The updated application will also feature instant personalization for musical tastes after a customer subscribes to the service and a new mode designed to optimize the use of data for people in mobile data plans with limit. But some key features and functionalities remain exclusive to paying subscribers.

Spotify's letter to investors also mentions the new application it made for Cadillac vehicles and their expanded partnership with Hulu. At this time, that combined subscription of $ 12.99 is only available to current subscribers, but Spotify reiterated that it will be available to new customers this summer.

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