Over the past year, Spotify has gained 74 million active users every month. This is evident from the new quarterly figures. In total, the platform has 345 million users in addition to music and a growing podcast offer. Most of them still listen for free.
At the same time, the vast majority of the turnover comes from paying users. Turnover in 2020amounted to 7.8 billion euros. The company also suffered losses all quarters, amounting to 293 million euros.
Focus on Podcasts
Where Spotify started as a music service, it has been presenting itself more and more emphatically as an audio platform in recent years. In addition to music, podcasts play an important role in this. “Looking at the behavior of new users, we are convinced that podcasts will increase the number of subscribers,” says the company in an explanation of the figures.
In 2019, it reportedly allocated 230 million dollars (191 million euros) to buy podcast publisher Gimlet Media. It is a way for the platform to stand out more from the competition.
Last year the popular podcast of Joe Rogan, The Joe Rogan Experience, joined. Since December 1, followers have to open the Spotify app to listen to the interviews. However, the collaboration between Spotify and Rogan also led to criticism when he interviewed conspiracy thinker Alex Jones.
Apple and Amazon
In the music world, Spotify has been facing strong competition from Apple and Amazon for a long time. These two parties are now also more emphatically looking at their own offer.
According to sources from news agency Bloomberg, Apple wants to launch a subscription service this year around its podcast offer, which will probably include its own productions. Amazon also already bought podcast company Wondery.
Spotify and Apple are not so good on another level. The Swedish audio platform filed a complaint against Apple to the European Commission in 2019 on charges of unfair competition. A year later, the European Commission announced an official investigation.