Spotify, the music and podcast streaming platform, has published the first quarter of 2021 reports. The company has 356 million monthly active users.
Spotify , on the first quarter of 2021 financial results published. 11 million new users joined the platform in the January-March period of this year. With its new users, the company increased its total monthly active users to 356 million .
Most revenue from Spotify Premium
In addition to the total number of users, which increased by 24% according to the first quarter data of 2020, the company managed to increase the number of Spotify Premium users to 158 million users, again by 21% compared to the same period of the previous year.
Although there was an increase in the company’s first quarter revenue part of this year compared to the same quarter of the previous year, 2020 remained behind the fourth quarter revenue. The company generated a quarterly income of 2.14 billion euros, according to the data it shared . 1.93 billion of the 2.14 billion euro revenue was earned from Spotify Premium.
In the first three months of the year, Spotify noted a strong increase in podcast consumption hours compared to the fourth quarter of 2020. The company announced that there were 2.6 million podcasts on the platform at the end of the first quarter.
Spotify also announced its expectations for the second quarter of 2021. The company predicts a total of 366 million-373 million monthly users and 162 million-166 million Premium subscribers.