Spotify is very popular. What is behind this?

Do you like listening to music or spoken language? If so, you know the Spotify platform and app. This is one of the largest and most famous streaming sites where you can enjoy an incredible amount of music, but recently podcasts have also come to the fore.1

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A surprise for the company itself

Analysts of the Swedish company happened that the increase in users in the last quarter went to 112.9 million using paid premium accounts, but they did not even expect. Year-on-year growth increased by 30%, with a staggering248 million registered membersand in the paid account area, the figure grew by 31%, to113 million users.

How is finances?

Spotify has struggled with red numbers in the past and is turning red. But now they have finally climbed to the black up to 61 million euros, in terms of more than 2 billion crowns 4100 billion. According to the company\’s management, there are several things behind this. What exactly is this?

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Success on the rise

According to leadership, the huge influx of new listeners is largely due to the new programs they came up with. In the so-calledSpotify family, groups have the opportunity to use premium services at discounted prices. The same applies to students who benefit from the platform.

Another reason to celebrate is the growing popularity of podcasts. It\’s not about music, it\’s about spoken words. Today, the company offers more than 50 million podcasts to listen to. Many of them are only accessible with a premium account, so you\’ll have to pay a fee immediately to reach the full content. They are particularly popular in the United States, but are slowly making their way to Europe.

Listening time increased by 39% compared to the previous year. The big novelty also makes it much easier for contributors to record their posts, creating audio recordings directly through their applications, thereby allowing podcasts to expand further and bring additional benefits.