Spotify, one of the world’s most popular digital music and podcast applications, is preparing to break new ground in company history. As of October, the platform has 172 million paid subscribers and a total of 381 million monthly active users.
The company, which managed to increase the number of its members by an average of 20 percent every year, said that they needed to reach 400 million users in order to reach their year-end targets. Looking at the past years and the rate of increase in 2021, the probability of realizing this target is quite high.
Spotify remains at the top
Spotify continues its claim to be the most preferred digital music platform with expected growth rates. Although its competitors in this field, Amazon Music and Apple Music, do not regularly announce their subscriber numbers, the gap is widened according to the data shared by Music Ally.
According to data, Amazon Music has more than 55 million subscribers. Similarly, Apple Music has recently surpassed 60 million users. Of course, although the price policies implemented by the companies are different from each other, Spotify still manages to stay in the 1st place in both fixed income and advertising revenues.
Spotify has no intention of losing the lead
According to The Wall Street Journal, the company’s advertising revenue from podcasts has increased from 10 percent to 13 percent this year compared to total revenue. The difference may seem small. However, a 30 percent increase in revenue was achieved only in podcasts.
The company says interest in podcasts is growing rapidly, hitting an all-time high when looking at the total hours of consumption of these content nationwide. The total number of content has also increased from 2.9 million to 3.2 million. That’s why Spotify says it’s the number one platform US listeners use for podcasts.
What do you think about this subject? What is your favorite music and podcast app? Don’t forget to share your views with us in the comments!
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