Music streaming giant Spotify now has 158 million paid subscribers globally

Swedish music streaming giant Spotify announced on Wednesday that it has now 158 million paid subscribers and 208 million are using the ad-supported version globally.

Announcing its financial results for the first quarter of 2021, the company said that its Premium Subscribers grew 21 per cent Year-on-Year (YoY) to 158 million in the quarter.

The company added nearly 4 million subscribers in the first quarter, which drove healthy double-digit YoY growth across all regions.

“I am pleased with the continuing momentum we are seeing across many aspects of our business this quarter, including our subscriber growth,” Daniel Ek, CEO and Founder, Spotify, said in a statement.