Music Industry

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.

Alan Cross has 38165 posts and counting. See all posts by Alan Cross

Let us know what you think!

This site uses Akismet to reduce spam. Learn how your comment data is processed.