Spotify announced a 40% jump in paid subscribers this week
Big news for Spotify coming from its third quarter earnings results this week. The company has announced it now has 87 million paid subscribers, which is a 40% increase.
Spotify's total number of users was also up, now standing at 191 million.
What's next for Spotify?
“Growth continues to be healthy across our Family and Student plans, and the strong retention characteristics of this base continue to drive churn lower,” the company said this week.
The company is expecting its paid subscribers to continue growing. They are projecting between 93 million and 96 million for the fourth quarter. They are aiming for total monthly users to be between 199 million and 206 million.
Meanwhile, European users are leading the way for Spotify at 36%. North America is at 31% and Latin American comes in at 22%.