Spotify Hits 252M Premium Subscribers, On Track For First Full Year of Profitability

Spotify has passed another milestone.

The platform now has 252 million paid subscribers globally, which represents an increase of 20 million more than last reported. Monthly Active Users (MAUs) are also up 14 percent year-over-year to 489 million.

Spotify is currently in the middle of a transformation and reporting cycle shift from monthly to quarterly reporting, so the full financial impact of Spotify’s latest subscriber milestone will not be known until it reports second-quarter earnings later this year. Still, Spotify is on track for profitability for its 2023 fiscal year, which would be its first full year in the black.

Some of the new features that Spotify has added in the past year include:

• Car Thing: A voice-controlled device for in-car entertainment
• Spotify HiFi: A new tier of audio quality
• Spotify Kids: A dedicated app for children

Spotify has also expanded its reach into new markets, including Russia and Africa and signed several exclusive deals with podcasters and musicians. The company is also investing in new technologies, such as artificial intelligence (AI) and machine learning (ML), to improve its user experience.

Spotify’s success is due in part to its large catalog of music and podcasts, as well as its personalized recommendations and user-friendly interface.

Looking ahead, Spotify is confident that it can continue to grow its subscriber base and reach profitability. The company has a number of initiatives in the pipeline, including:

• Expanding into new markets
• Developing new features
• Investing in AI and ML

With a strong track record of innovation and a large and growing user base, Spotify is well-positioned to continue its success in the years to come.