- Spotify reached 108 million paid subscribers in Q2, meanwhile Apple Music achieved 60 million
- Spotify keeps leading the global music streaming market
Spotify has a lot to celebrate and less to be worried about, at least for now. The music streaming platform reached 108 million paid subscribers by the end of the last quarter, growing by 31% and staying well ahead of their main competitor, Apple Music which achieved 60 million subscribers in the same period.
Regarding the users from the free Spotify’s version with advertising, the Swedish music streaming platform rose 29% and reached a total audience of 232 million. The Apple product doesn’t offer a free version, but even so, they won the US market, meanwhile Spotify is dominating other regions, especially the emerging markets.
The company’s forecasts for next quarter expect that growth rates will follow a similar pace, reaching 110 to 144 million paid subscribers and 240 to 245 million total audience by the end of September. The recent announcement of the version Lite of Spotify’s app, a version created to tackle weak Internet connection and focused on increasing its audience in Android smartphones in emerging markets, is one of the biggest weapons to achieve these goals.