Spotify strengthens its leading position in the music streaming market. The Swedish giant announced Thursday, during the presentation of its quarterly results, to have crossed the milestone of 130 million paying subscribers, despite the coronavirus crisis, which would have heavily impacted the music streaming sector according to several players.
With 130 million paying subscribers, Spotify remains the undisputed market leader, far ahead of Apple Music (60 million) and Amazon Music (55 million).
A paying strategy
Unlike Apple, Spotify took the risk of keeping a free offer, which is used as leverage for its paid subscriptions. According to the latest figures, 163 million people worldwide would access the service through this method. During the last quarter, Spotify would have converted 6 million of these users into paid subscribers. Solid performance.
“Despite the uncertainty surrounding the coronavirus crisis, we have exceeded our targets. For the second quarter, our objectives remain unchanged with the exception of advertising revenues, ”the company said in a press release.
Spotify also plays the diversification card by offering its application on more media. Recently, the company has thus introduced a new application for Android TV TVs.
Web
Spotify offers you to generate personalized playlists for your pets
High-Tech
Apple Music now has more paid subscribers than Spotify
- Amazon
- Economy
- Apple Music
- Apple
- Spotify
- Streaming
- Subscription
- Music streaming
- High-Tech