Spotify world’s 1st music streaming platform to surpass 200 mn paid users

Music streaming platform Spotify on Tuesday announced its premium subscribers base has touched 205 million, representing a 14 per cent increase year-on-year. This makes Spotify the world’s first music streaming company to achieve such a large user base.

Its monthly active users (MAUs) reached 489 million, a 20 per cent increase (YoY), according to the company’s Q4 2022 earnings report.

“Q422 delivered great platform growth. We ended 2022 strongly despite a challenging year. Expect us to move faster with more intensity of effort, driving even greater efficiency in 2023,” CEO Daniel Ek said in a tweet.

On the earnings front, Spotify posted an operating loss of around $250 million for the quarter.