Spotify passes 500mn active users, widens first-quarter loss

Music streaming giant Spotify on Tuesday reported that it had 515 million monthly active users as of the end of March, beating expectations, as its operating loss deepened.

The Swedish company also saw the number of paying subscribers grow to 210 million.

Analysts queried by Factset had expected the total monthly active users to reach around 501 million on average, and paying subscribers to reach 207 million.

Spotify said in a statement it had posted its “strongest” first quarter “since going public in 2018,” with nearly all performance indicators “surpassing expectations.”