Spotify tops 100m active users – but can it keep up its conversion rate?
Spotify tops 100m active users – but can it keep up its conversion rate? – Music Business Worldwide
Spotify has confirmed that its platform now officially boasts more than 100 million active users.
The last official confirmation we had from the Swedish service was that it had 89m active users at the close of 2015.
That means that Spotify is currently adding around 1.8m active users to its service every month.
But the question on the lips of the music business will be… how is that user growth converting into subscribers?
Within Spotify’s full year 2015 financials, uncovered last month by MBW, we discovered that the service finished the year with 28m paying subs – a premium conversion rate of 31.5%.
If Spotify has maintained that conversion rate throughout 2016, it will, obviously enough, have notched up around 31.5m paying subscribers to date.
In March, Daniel Ek revealed that Spotify had reached 30m paying subscribers – suggesting its paying customer base is growing by around 1m a month.
Read the full story on Music Business Worldwide