Spotify is quickly approaching 300 million monthly active users (MAU).
The platform’s MAU count just peaked at 299 million for the second quarter dated June 30th, an increase of 29 percent year-over-year. In addition, subscribers are up 27 percent year-over-year, for a total of 138 million paid users.
At the start of quarantine, Spotify reportedly experienced a “covid-related softness” in multiple countries and regions. However, the platform bounced back significantly last month, and the momentum is expected to continue through the next quarter.
Spotify recently invested in podcasts and video podcasts (aka vodcasts), and this increase could be a direct result. According to a report, Spotify now hosts 1.5 million shows and half of them launched in 2020.
If this pace keeps up, the music streaming service is expected to have closer to 350 million MAUs by the end of the year.
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Source: Tech Spot