Spotify reached 130 million paid accounts, its revenue in the first quarter of 2020 reached $ 2 billion
Spotify reached 130 million paid accounts, its revenue in the first quarter of 2020 reached $ 2 billion
MinhTriND
In the first quarter of fiscal 2020, the number of premium users on the Spotify music platform reached 130 million, an increase of 31% over the same period last year. In addition, revenue also increased to 22%, exceeding analysts' previous expectations. A June report last year said Apple Music had about 60 million paid users and it's unclear how much that number has increased. In the last quarter, its revenue reached nearly 2 billion US dollars.
At the moment, it is not clear how the COVID-19 pandemic will impact the business of online music streaming services like this. Some say that like other platforms, being stuck at home during the social isolation stage makes the need to watch and listen to online content more. But there are also parties that when work and income are affected, the behavior of spending money to buy non-essential services such as music streaming will be reduced.
During the sharing session with WSJ, the representative of Spotify said that they conducted a survey in the US about why they canceled the paid plan, and the results showed that more than 80% of the respondents said they would continue. Renew your subscription for account if the situation is better. During the epidemic season, Spotify offered home-based employees, and unlike many other businesses, the company has so far not made any layoffs.
MinhTriND
In the first quarter of fiscal 2020, the number of premium users on the Spotify music platform reached 130 million, an increase of 31% over the same period last year. In addition, revenue also increased to 22%, exceeding analysts' previous expectations. A June report last year said Apple Music had about 60 million paid users and it's unclear how much that number has increased. In the last quarter, its revenue reached nearly 2 billion US dollars.
At the moment, it is not clear how the COVID-19 pandemic will impact the business of online music streaming services like this. Some say that like other platforms, being stuck at home during the social isolation stage makes the need to watch and listen to online content more. But there are also parties that when work and income are affected, the behavior of spending money to buy non-essential services such as music streaming will be reduced.
During the sharing session with WSJ, the representative of Spotify said that they conducted a survey in the US about why they canceled the paid plan, and the results showed that more than 80% of the respondents said they would continue. Renew your subscription for account if the situation is better. During the epidemic season, Spotify offered home-based employees, and unlike many other businesses, the company has so far not made any layoffs.
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