One of the well-known music streaming application, Spotify, announced that their Premium users have already reach 100 million in the first quarter of 2019.
According to Reuters, Spotify stated that they already have 217 million active users on March. Those active users claimed to be increasing from 173 million on the first quarter of 2018.
One of the analyst from the FactSet AS Research Company said that the Premium users of Spotify increase from 75 million on 2018 into 100 million users on the last quarter of the year.
Besides the significant increasing number of the Premium users, Spotify also stated that their income had also increased by 33% or USD 1.69 billion according to the data provided by Institutional Broker’s Estimate System (IBES) from Revinitiv.
The users in Europe has the biggest contribution for this achievement; approximately 40% from the total of Premium users all over the world. The next region is North America with 30% Premium users.
Unfortunately, it is issued that they will lose several incomes on the first quarter of 2019. They will lose USD 158 million, according to Endgadget.
Spotify is currently developing the podcast feature in order to make sure that the company’s future remains stable. Even if they recently just bought the Anchor and Gimlet, the podcast feature has already bear the fruit; it gains several cash from the rising advertisements.
The Recording Industry Association of America (RIAA) has also mentioned that 75% of the income regarding the music industry was gained through the online music streaming application, and one of them is Spotify that managed to do a remarkable uplift for American’s music industry income. It increased by 12%, become USD 9.8 billion in 2018.
Source: CNN Indonesia