Both Spotify and YouTube turn in some big Q1 pandemic numbers

Earlier today (April 28), Spotify released its financial results for the first quarter of 2021. Here are some highlights.

  • The company has 356 million monthly users globally. Of that number 158 million are paying for the premium tier.
  • It turned a profit of about CAD$24 million–impressive, given that all streaming platforms have been struggling to be profitable because of the rigid licensing demands of labels and publishers.
  • 2.6 million podcasts are now hosted on Spotify, up from 2.2 million three months earlier
  • Those podcasts are being consumed by about 89 million people.

And then we have YouTube.

  • YouTube ads generated just over US$6 billion in the first three months of the year. That’s up 48.7% from the same period last year.
  • The platform has more than two billion monthly logged-in users.
  • More than one billion hours of video is viewed every day.
  • Doing the math, it means that the averaged logged-in YouTube view watches around 15 hours of video a month.

Alan Cross

is an internationally known broadcaster, interviewer, writer, consultant, blogger and speaker. In his 40+ years in the music business, Alan has interviewed the biggest names in rock, from David Bowie and U2 to Pearl Jam and the Foo Fighters. He’s also known as a musicologist and documentarian through programs like The Ongoing History of New Music.

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