Spotify will see a huge increase in the number of subscribers in Q2, reaches 299M

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Spotify has shared its Q2 2020 is the financial report shows, the Swedish streaming platform, grew its Monthly Active Users (MAU) to 299 million, an impressive growth of 29% year on year and up 5% in Q1 2020.

The revenue from Premium subscribers, has also increased, while there was a decrease, it was only to be found in the Free Cash Flow was mainly due to the “ongoing uncertainty surrounding the COVID-19 pandemic.”

Users (in million of euros)(Q2) for 2019In Q1 of 2020In Q2 2020
Total Monthly Active Users (MAU)232286299
Premium Subscribers108130A total of 138
Ad-Supported Mouse129163170

The results of Spotify, posted, were, as the press release puts it, “at the top end of the guidance range. The growth in North America were better than expected, with an increase in users and revenues at a steady pace, and since 2019.

India is also a market for the Music performed better than expected, with the main reason being “the strong performance of marketing activities in the region. In Latin America, and Rest of World markets will see the fastest growth, with a 33% and 58%, on an annual basis.

During the months of April and May saw a slower-than-expected growth in the latter two regions, one of them went up in June, as the attacks have increased. The expectations were high, both in Latin america and the Rest of the World, but the company’s success in North America helped to offset the results.

Music will be unveiled on June 30, the global consumption of hours was restored to the pre-COVID levels. All regions are fully recovered, and the Asia-Pacific region and the european union have led to the change, as this will be the first markets where the spread of the virus seems to be slowing down. Platform-wise, in the car listening to the end of Q2 was a decline of 10% from the pre-COVID, compared to a 50% decline in the month of April.

Source (pdf).

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