Spotify is big and getting bigger. Here are the latest figures.
News from Spotify today (October 27) that the streaming giant now has 172 million paying subscribers, up 19% over this time last year and up by 7 million (or 4%) in the last quarter. Looking at the number of average monthly users, that’s up 19% to 381 million.
Revenues were up, too. In Q3, they were €2.178 billion, which showed an increase of 6% from the same time last year. The company also took in €323 million in ad revenues (i.e. commercials that run on the free tier), which is up by a staggering 75% from Q3 2020.
All this leads to an operating profit of €75 million. A year ago in the same quarter, Spotify lost €40 million.
The best territories for growth? India, Philippines, and Indonesia. South Korea, Bangladesh, and Pakistan are also doing well.
Breaking down the world, 34% of Spotify’s listenership comes from Europe with North America in second with 24%. Latin America follows with 22% and 21% for the rest of the world.
One more stat: Spotify now hosts 3.2 million podcasts, although they wouldn’t say how many people are listening to podcasts through the platform.
More details here.