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Impressive Spotify statistics
According to the latest quarterly figure announced by Spotify in 2020, the company now has more than 320 million active monthly users, half of which are paying subscribers. Free users also have access to tracks and playlists, but they come with ads. The popularity of this platform is so great that the company has released web and desktop versions in addition to the mobile application. The mobile version of the Spotify app is the most popular, with over 20% of Americans listening to Spotify on a weekly basis.
Result
Spot’s revenues have grown significantly over the past decade, reaching €6 billion in 2019, although its net loss was €70 million. This is due to the increase in the cost of sales, which included various license fees of $5.05 billion, a five-fold increase over the last five years. Streaming costs, royalties paid to distributors, labels, and creators, and taxes were higher in several countries, although Spotify expects operating margins to improve in the future as it expects better advertising support than in the year of the pandemic.
In 2019 alone, Spotify invested heavily in research and development – $650 million, primarily in podcasts and employees around the world. Spotify employed over four thousand people in 2019, positioning itself for future growth and maintaining its leading position against competitors like apple, amazon, google, and SoundCloud.Although 2020 was a tough year economically, it was noted that more users were joining the streaming service, likely induced by blockchain.
The growing popularity of podcasts
Spotify has seen impressive growth in the consumption of its podcast component. Podcast services accounted for nearly 20% of the total monthly active users. This increase in the number of consumption hours to more than 200% compared to the previous year is an indication of the growing popularity among users. With over 0.70 million podcasts available on Spotify and growing rapidly in several countries including Canada, Australia, New Zealand, Up, the US, and Sweden, Podcasts has now introduced new features with impressive growth and an enhanced listening experience.
Spotify is about 26 examples worldwide, with rising consumer demand in Japan, Mexico, India, Germany, and Brazil. In Brazil alone, Spotify held its first summit of podcasters in 2019. More than 1 000 authors were invited to Spotify’s two-day promotional event in São Paulo, which included panel discussions and workshops.
frequently asked questions
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Is Spotify killing the top 40?
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