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Spotify's paid subscribers hit 138 mn as music streaming demand rebounds

Analysts on average were expecting the company to have 136.4 million paid subscribers

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Spotify

Reuters  |  STOCKHOLM/NEW YORK 

STOCKHOLM/NEW YORK (Reuters) - Spotify Technology SA said on Wednesday music streaming demand had rebounded from the coronavirus-related weakness it saw at the start of the quarter and its paid subscribers reached 138 million, ahead of Wall Street estimates. Premium subscribers, which accounts for most of the company's revenue, were up 27% from a year earlier. Analysts on average were expecting the company to have 136.4 million paid subscribers, according to IBES data from Refinitiv. Revenue rose 13% to 1.89 billion euros ($2.22 billion) for the three-months ended June 30, from ...

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First Published: Wed, July 29 2020. 16:52 IST
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