Spotify now has 100 MIllion Premium users

Spotify just announced in its most recent financial figure that it now has over 100 million premium subscribers up from the 75 million it had a year ago. This is a 32% year on year growth growth and it has also helped increase Spotify’s revenue figures up at an impressive 33% to €1.51 billion ($1.67 billion).

The music streaming service also now has 117 million free ad-supported users which is 44 million more free subscribers in 12 months. With this, Spotify currently has a total of 217 million active monthly users.

The massive increase in subscribers is due to recent partnership with companies like Samsung that pre-installs the app in most of the smartphones with 6 months free spotify premium, Google also offer free Google Home mini to subscribers of Spotify Family Plan in USA, UK and France and Hulu on the other hand has reduced the price of their bundle offer.

Spotify also just launched its service in India at the end of February and the company has already gained over 2 million users. Even with the impressive increase in monthly active users, Spotify still recorded a loss of  €142 million ($158 million) in Q1 of 2019. This is down from  €442 million ($493 million) profit it made back in December of 2018.