Spotify Subscriber Base Jumps 14% in Q2 to 188 Million, as Streamer Comes in Above Expectations

Spotify turned in strong numbers for the second quarter, beating expectations for total and paid subscriber adds and reporting 23% revenue growth. Premium subscribers grew 14% to 188 million, a net gain of 6 million (and 1 million above guidance), “aided by promotional intake and household plans,” the company said in announcing results. That included a loss of about 600,000 subs in Russia, after Spotify fully exited the country in early April. Total monthly active users grew 19% to 433 million, an adjusted net gain of 19 million in Q2 and 5 million above guidance — Spotify’s largest-ever Q2 growth…. Read Full Article