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.

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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