Spotify premium subscriber count increases 21 percent to 158 million
Spotify now boasts 158 million premium subscribers and 356 million monthly active users, according to its latest earnings report released today. That’s a 21 percent and 24 percent year-over-year increase, respectively. It’s up from 155 million premium subscribers and 345 million monthly active users last quarter.
The streaming service has continued to focus on podcasts both as a way to convert free listeners to premium subscribers, and as a way to generate ad revenue. Spotify said that ad-supported revenue outperformed its forecast thanks in part to its podcasting efforts. In particular, the company said the Joe Rogan Experience, which it now exclusively licenses, “performed above expectations.” Spotify says it’s seen a “strong increase”…