Spotify's latest subscriber and financial numbers are a surprise even for the company itself
Even though both Google and Amazon have been working hard lately on improving their premium music streaming products, the thriving market is still dominated by one service that continues to outpace all others in terms of subscriber growth.
That’s right, the company only expected its monthly active users (MAUs) to jump to 240-245 million in this July-September timeframe, with projections for premium subscribers sitting at 110-114 million people. Up next, the figures are forecasted to rise to anywhere between 255 and 270 million MAUs, as well as 120 to 125 million premium users by the end of the year.
Clearly, Spotify is doing much better than that and growing at a healthier pace, not to mention it’s actually making money too. Not a lot, but way more than expected. Namely, €54 million (around $60 million) between July and September 2019, compared to €2 million, which was the company’s most optimistic prediction for this quarter, and €6 million, which was how much Spotify lost during Q3 2018.