Spotify adds 5M premium users and hits record operating income

Spotics reported On Tuesday, his premium subscriber base increased by 5 million in the first quarter, which represented a 12% increase from year to year. This brings a total of 268 million, which indicates the second highest overall overall and highest net added to the paid sub-prodes in the first trimester From 2020.

Spotify also reported on a record quarter -month operating revenue of EUR 509 million or about $ 528 million. However, this was below the company guidelines in the amount of EUR 548 million ($ 625 million). The total revenue jumped 15% compared to the year to 4.2 billion euros ($ 4.8 billion).

In addition, the music giant now has a total of 678 million monthly active users (Maus) and 423 million Maus that supports the ad.

Numbers appear on the heels of the company a turning point of profitability Last quarter, when he reported on an operating revenue of 477 million euros ($ 509.48 million).

Spotify remains a top player in the music stream industry, successfully winning competitors like Apple Music Amazon Music. In addition, the company has persecuted YouTube with its pressure in video podcasts, and now there are 330,000 emissions on the platform. Significant is that its recently launched Spotify’s partner program paid more than $ 100 million to the creator under the first quarter.

Recently Spotify took out his You have a playlist to reproduce Offering over 40 markets, including Bahama, Fiji, Ghana, Jamaica, Kenya, Singapore and more.