Spotify's Growth and Engagement Surpasses Apple Music

Gaining 26 million paying subscribers just this year.

By
Tech
3,247 Hypes 3 Comments

According to Spotify‘s third quarter financial report for 2019, the music streaming platform’s growth and engagement have substantially increased, surpassing main competitor Apple Music‘s figures. Noting better-than-expected results across user growth, gross margins, and operating profits, the company has reported that just this year alone, it has gained 26 million new paying subscribers, totalling now at 113 million by the end of September. Contrast this to Apple Music’s 60 million paying subscribers, a figure the tech giant reported earlier in June. Overall subscribers amount to 248 million, which marks a significant increase from the 217 million reported in March this year, with 100 paying subscribers at the time.

A statement from the Swedish streaming platform states:

“Relative to Apple, the publicly available data shows that we are adding roughly twice as many subscribers per month as they are. Additionally, we believe that our monthly engagement is roughly 2x as high and our churn is at half the rate. Elsewhere, our estimates imply that we continue to add more users on an absolute basis than Amazon. Our data also suggests that Amazon’s user base skews significantly more to ‘Ad-Supported’ than ‘Premium’, and that average engagement on our platform is approximately 3x.”

Elsewhere in tech, Samsung has revealed a pocket-sized foldable flip-phone concept.

Read Full Article
Source
Bgr

Join Our Discussions on Discord

The HYPEBEAST Discord Server is a community where conversations on cultural topics can be taken further.

1443 Users Online

What to Read Next

New Balance Revamps 801 With Monochromatic GORE-TEX Uppers
Footwear

New Balance Revamps 801 With Monochromatic GORE-TEX Uppers

Updating the trail-inspired silhouette.

Kanye West Drops Bevy of AWGE-Designed Merch for 'Jesus Is King'
Fashion

Kanye West Drops Bevy of AWGE-Designed Merch for 'Jesus Is King'

Exhibiting depictions of Christ and various ’90s-esque graphics.

Westside Gunn Taps Conway the Machine & Benny the Butcher for Creeping Cut "Kool G"
Music

Westside Gunn Taps Conway the Machine & Benny the Butcher for Creeping Cut "Kool G"

Ahead of the release of Gunn’s ‘Hitler Wears Hermes 7.’


Pop Smoke & Lil Tjay Reconnect for Official "War" Music Video
Music

Pop Smoke & Lil Tjay Reconnect for Official "War" Music Video

The rising New York rappers aren’t holding back.

Here's Everything You Need to Know About HBO Max
Entertainment

Here's Everything You Need to Know About HBO Max

Featuring more than 10,000 hours of programming including ‘Rick and Morty,’ ‘Westworld,’ ‘South Park’ & more.

HUMAN MADE Drops Three Fall-Ready Military-Inspired Garments
Fashion

HUMAN MADE Drops Three Fall-Ready Military-Inspired Garments

Featuring a light parka, flight vest and field jacket.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Help us serve you better

We appreciate your support in allowing HYPEBEAST ads, where we can share contents from the latest fashion, to those culturally relevant. In adding HYPEBEAST to your ad blocker's whitelist, ads on our sites will show while you continue to browse.