Spotify profits from more subscribers and price hikes
by Jon Porter from The Verge - All Posts on (#6FTH3)
The number of people paying for Spotify Premium rose three percent to 226 million on a quarterly basis as the streaming service announced price increases across the US and several other global markets. Spotify's monthly active users (MAUs) also rose to 574 million as of September 30th, a four percent increase from last quarter. Both rises were slightly above Spotify's forecast.
Comparing performance year over year, Premium subscribers were up 16 percent while MAUs were up 26 percent. Spotify says the net growth in monthly active users was the second largest third-quarter increase in its history.
Spotify's latest subscriber figures came as part of today's earnings report, which covers the three months ending September 30th. In the midst...