What you need to know
- Spotify has today announced its earnings for Q2 2021.
- The streaming platform says it now has 365 million monthly active users.
- 165 million of those are paying subscribers.
Music streaming service and Apple Music competitor Spotify has today announced that it now boasts 365 million monthly active users, 165 million of whom are paying subscribers.
In the company's Q2 earnings announcement for 2021 Spotify stated that most of its major metrics performed "better than expected this quarter", except in the all-important area of monthly active users (MAUs), where it fell short of guidance.
Total MAUs were up 22% year on year to a staggering 365 million, with the company adding around 9 million in the last three months, driving double-digit year-on-year growth in all regions.
Of that 365 million, Spotify says that only 165 million are paying Premium Subscribers, a figure that's also up about 20% year on year.
Spotify's overall Q2 revenue was just over $2.7 billion.
After diving more into the world of podcasting, Spotify says it now has nearly 3 million podcasts on the platform, and that MAU engagement with the service was up "modestly" compared to Q1, but that numbers were strong for those who did engage:
Spotify says that it expects to break through the 400 million monthly active user milestone by the end of this year, and hopes that between 177-181 million of those will be paying Premium subscribers.
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Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.
Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple. Follow him on Twitter @stephenwarwick9