Three months ago, Spotify predicts that user growth will begin to decline, because COVID-19 has prompted more signups than expected. Today, the audio giant proved to be correct, and the number of new registered users dropped to 9 million. Last quarter, But slower growth is not always a bad thing. Of these 9 million numbers, 7 million users have registered for Premium, while only 2 million users have received ad support. This means that Spotify can also announce a second consecutive quarter of profitability after a long-term loss.
The total number of Spotify users is now 365 million, of which 165 million are for Premium and the remaining 210 are for advertising support. Converting more of Spotify’s large ad-supported user base into advanced users is one way to ensure that the company remains profitable. Of course, the other is to promote its growing advertising business, which is supported by Spotify’s many podcast products. The company said that advertising sales at its own podcast outlets (including The Ringer, Parcast and Gimlet) increased by “three digits” year-on-year.
In the past three months, Spotify has stepped up its efforts to encourage users to use audio content formats that are cheaper than music.it says Joe Logan The performance of the podcast “exceeds expectations” while the show exceeded expectations ring As the NBA enters the playoffs, the number of listeners has increased significantly. This month did not mention how many people were listening to the show of former President Barack Obama and Bruce Springsteen hanging out, which was the second largest podcast on the platform at the beginning of this year.
As for the future, Spotify said it hopes to add at least 12 million users in total, and at least another 5 million paying customers. Although you consider that COVID-19 is still uncertain, you can never be sure that it is still expected to reach the coveted number of 400 million users by the end of the year.
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