Latest News | Monthly Active User Base of Spotify Touches 320 Mn in Q3
Get latest articles and stories on Latest News at LatestLY. Music streaming platform Spotify's monthly active user (MAU) base has grown 29 per cent in the September 2020 quarter to 320 million over the year-ago period, buoyed by markets like India and Russia.
New Delhi, Oct 29 (PTI) Music streaming platform Spotify's monthly active user (MAU) base has grown 29 per cent in the September 2020 quarter to 320 million over the year-ago period, buoyed by markets like India and Russia.
The MAU "outperformance" was buoyed by India, which benefited from successful marketing campaigns, as well as stronger than expected results from July launches in Russia, CIS (Commonwealth of Independent States), and the Balkans, the music platform said in a statement on Thursday.
"We are particularly encouraged by our MAU strength this quarter, as it supports the long-term health of our customer acquisition funnel and gives us confidence as we continue to expand into new markets," it added.
Spotify had 144 million premium subscribers globally, up 27 per cent year-on-year, in the September quarter.
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The company said it expects its total MAUs to be in the range of 340-345 million, and premium subscribers to be 150-154 million in the fourth quarter.
"From a content consumption standpoint, global consumption hours surpassed pre-COVID levels during the quarter, and all regions have fully recovered. Consumption trends by the platform have returned to normal usage, including in-car listening hours, which is now above the pre-COVID peak," the company said.
Usage of connected devices in the home, which saw a spike during the lockdown, also remains above pre-COVID levels, it added.
The platform now has over 1.9 million podcast titles available, while the number of artists and their teams utilising Spotify for Artists tools on a monthly basis has grown to more than 7,50,000.
Spotify said its revenue increased 14 per cent y-o-y to 1.97 billion euros (about Rs 17,131 crore) in the September quarter.
Its premium revenue grew 15 per cent y-o-y, while ad-supported revenue rose 9 per cent in the quarter under review.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)