Spotify has a habit of providing us with the latest figures that show how it’s maintaining its lead in the music streaming arena. The company today announced that it has more than 140 million monthly active users in the markets where its service is available. Spotify said back in March that it had 50 million subscribers paying for its premium service, the latest figures now suggest that the free user base currently stands at over 90 million.
Even though Spotify is under increasing competition from the likes of Apple Music, it’s still comfortably ahead of the pack, given that Apple Music recently announced that it has 27 million subscribers. Spotify’s subscriber base has been growing at a healthy rate and it would no doubt like to keep that up to ensure that it’s lead isn’t threatened by its rivals.
However, it’s no secret that the world’s most popular streaming service is having to deal with financial issues. The company is pitching its increased user base to advertisers and providing them with enhanced audience insights so that they can effectively target its 140 million-strong money while generating revenue for Spotify in the process.
It’s also no secret that Spotify has been trying to go public as it seeks to avoid penalty fees from the $1 billion debt round it raised last year.
Current reports suggest that Spotify is not going to do an initial public offering, it will opt for a direct listing which would let the company allow its investors and employees to sell their shares and cash out without having to raise more money.
Filed in . Read more about Spotify. Source: spotifyforbrands