Spotify posted an unexpected earnings report earlier this week, showing its growth rate and its engagement has leapt pass Apple Music…
Swedish streamer Spotify recently disclosed it has gained 26 million more paying customers in the past year. It further states it reached a total of 113 subscriptions by the end of September. By comparison, Apple Music claimed 60 million customers back in June.
Spotify Growth Rate and Engagement Numbers Surpass Apple Music
Spotify reported 248 million total monthly active users at the end of last month. That particular figure includes 113 million paying customers. By contrast, Spotify had 100 million subscibers at the end of March, with a total user base of 217 million. Overall, this puts Spotify approximately up 39 percent for quarter over quarter numbers.
“Relative to Apple, the publicly available data shows that we are adding roughly twice as many subscribers per month as they are. Additionally, we believe that our monthly engagement is roughly 2x as high and our churn is at half the rate. Elsewhere, our estimates imply that we continue to add more users on an absolute basis than Amazon. Our data also suggests that Amazon’s user base skews significantly more to ‘Ad-Supported’ than ‘Premium’, and that average engagement on our platform is approximately 3x.”