Spotify hits 100 million subscribers, reports revenue jump

📆 4/29/2019 5:33 PM
📰 ChannelNewsAsia

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Spotify Technology SA reported a better-than-expected rise in first-quarter revenue on Monday as the music streaming company hit 100 million paid ...

REUTERS: Spotify Technology SA, the world's leading streaming platform, said on Monday it had hit 100 million paid subscribers as it reported a better-than-expected rise in first-quarter revenue.

Spotify said it had 217 million monthly active users in March, up from 173 million in the same quarter a year earlier. Analysts on average were expecting the company to have 218.6 million subscribers, according to research firm FactSet. Europe contributed 40 percent of the total paid subscribers, followed by North America with 30 percent.

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