Early April, the music streaming company Spotify do Initial Public Offering (IPO) in the stock exchange New York Stock Exchange. This week Spotify released its first financial report as a public company. It explains that Spotify now has 170 million monthly active users (MAU) and 75 paid subscribers.
The number of paid subscribers expressed in the first quarter of 2018 was higher than the fourth quarter of last year, which was recorded at 71 million. As many as 99 million Spotify users listen to music for free with advertising treats. Meanwhile, paid subscribers can enjoy music without advertising.
For the next quarter, Spotify projects their number of monthly active users to increase between 175 and 180 million. Meanwhile, premium customers are predicted to increase to the range of 79 to 83 million. By the end of 2018, monthly active Spotify users are expected to reach more than 200 million, with subscribers paying in the 90 million range.
As quoted from The Verge on Thursday (3/5/2018), the Swedish company also recorded revenue of 1.4 billion euros for the first quarter of 2018, in accordance with previous analyst estimates. Cumulatively, by the end of 2018, Spotify’s revenue is projected to reach the range of 4.9 to 5.3 billion euros.