Aug 2020 RadioWorks Blog
Spotify recently revealed its quarterly earnings report for Q2. Within this, the company highlighted that it now reaches just under 300 million monthly active users, stating that listening hours have bounced back to Pre-COVID Levels.
Spotify user growth has met the company’s expectations after experiencing a slight drop in consumption hours in Q1, as a result of the global health crisis. Now in Q2, total monthly active users have grown by 29%, which equates to an increase of 13 million, and ad-supported users now sit at 170 million worldwide, almost 57% of total active users.
As of June 30th, Spotify has said that global consumption hours have been restored to pre-COVID levels and now, all regions worldwide have fully recovered — with the exception of Latin America, which is 6% below peak levels prior to the crisis. In a letter to shareholders regarding Q2, Spotify said: “Our business performed well in Q2 and continues to operate at a high level despite the continuing uncertainty surrounding the COVID-19 pandemic.”
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