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.
