Spotify hits 100-million paid subscribers mark

Spotify Technology SA reported a rise in first-quarter revenue on Monday, as the music streaming company hit 100 million paid subscribers for its premium service.

Spotify has launched in regions such as India, the Middle East and North Africa in recent months.

The company said it had 217 million monthly active users in March, up from 173 million in the same quarter a year earlier.

FactSet research firm analysts were expecting the company to have 218.6 million subscribers on average.

Premium subscribers at the end of the quarter were 100 million, up from 75 million a year earlier. Analysts were expecting the company to have 99 million paid subscribers.