NEW DELHI: Audio streaming service Spotify has reached 320 million monthly active users in the third quarter with a 29 per cent year-on-year growth. Successful marketing campaigns in India, as well as the July launch in Russia, have driven the growth.
“From a content consumption standpoint, global consumption hours surpassed pre-COVID levels during the quarter, and all regions have fully recovered. Consumption trends by the platform have returned to normal usage, including in-car listening hours which is now above the pre-COVID peak. Usage on connected devices inside the home, which saw a spike during the lockdown, also remains above pre-COVID levels.,” the company stated.
Its premium subscribers base grew by 27 per cent year-over-year to 144 million in the quarter. The platform saw strong subscriber growth across all regions, with added benefit from new market launches in Russia and surrounding territories. Russia has been the most successful new market launch to date and represented the largest portion of subscriber outperformance for the quarter.
Total revenue of $1,975 million grew 14 per cent year-over-year in Q3; premium revenue grew 15 per cent to $1,790 million while ad-supported revenue rebounded nicely, growing 9 per cent. Within premium, average revenue per user (“ARPU”) of $4.19 in Q3 was down 10 per cent year-on-year.