Who has seen The Playlist, a Netflix series about the story of Spotifyyou know: the Swedish giant started from nothing, covering an unexplored slice of the market for the music market of the early 2000s. over 456 million active usersthe. Of these 195 million would be subscribers to Spotify Premium.
The streaming giant yesterday published a report (shared by The Verge, which you can find here) in which it says that the 195 million payers would represent a net growth of 7 million compared to the previous quarter. To understand the extent of the phenomenon it is enough to know that Spotify predicted an increase of “only” 1 million. Currently the company plans to exceed 200 million subscribers by the end of 2022.
Spotify: Subscribers are growing but the title is falling
Although the news represents a positive trend for Spotify, The Verge reports that for Wall Street the stock is down by more than 6% in after-hour trading. Spotify’s gross profit margin was 24.7%, two points lower than the same quarter last year, and below the company’s expectations.
In recent years, Spotify seems to have decided to go all in on podcasts, even at the expense of music content. Currently the catalog includes approximately 4.7 million podcasts available, a net increase compared to the 4.4 million of the previous quarter. While podcasting is not yet profitable for the company, the company said it experienced double-digit revenue growth for the content in question.