Spotify has 300 million Premium subscribers, according to the company's Q2 earnings report.Announced on Tuesday, the company said it had hit "a milestone no audio streaming service has ever reached," with the total marking a nine percent increase from last year.
Spotify indeed dominates the U.S. audio streaming market, topping competitors like Apple Music (estimated around 100 million paid subscribers) and YouTube Music (estimated around 125 million combined subscribers with YouTube Music and Premium), though these are industry estimates — streamers rarely publicly herald their paid subscriber numbers, so Spotify's announcement is a rarity.Spotify's ad-free tier, which allows users to listen offline, enjoy lossless audio, and control queues, costs $12.99 per month. Over the last year, the company has gone hard on tempting free users to pay for Premium, adding a plethora of features, including Running Mode, Page Match, concert ticketing, and more, as well as rolling out an AI chatbot for your music and listening history.
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It's not the only increase for Spotify either, with the platform reporting 777 million monthly active users (up 12 percent from last year) and total revenue up 14 percent — that's €4.8 billion.
