Spotify tops 138 million paying subscribers - TechCentral

Spotify tops 138 million paying subscribers

Spotify Technology said on Wednesday music streaming demand had rebounded from the coronavirus-related weakness it saw at the start of the quarter and its paid subscribers reached 138 million, ahead of Wall Street estimates.

Premium subscribers, which accounts for most of the company’s revenue, were up 27% from a year earlier. Analysts on average were expecting the company to have 136.4 million paid subscribers, according to IBES data from Refinitiv.

Revenue rose 13% to €1.89-billion for the three months ended 30 June, from €1.67-billion a year earlier.  — Reported by Supantha Mukherjee and Ken Li, (c) 2020 Reuters

© 2009 – 2020 NewsCentral Media