Spotify Is Still #1 When It Comes To Streaming Music
Spotify has just released their Q4 2018 earnings report, and things are looking good for the Swedish based streaming music giant as the company is still in the lead against tech giant Apple.
At the end of 2018, Spotify had 96 Million Premium Subscribers paying a monthly fee to access the service. That's 46 Million more than Apple reported. Along with the paying subscribers, Spotify has 207 Million monthly active users, meaning 11 million users are using the free version of the service.
Spotify pointing out their recent holiday promotions with Googles home hardware helped the company to gain almost 7 million new subscribers in December. They also set a new single-day subscriber record of 500,000 new subscribers in one day this past December.
When it comes to year over year growth for the company they are falling behind their main rival Apple. Spotify gained 9 million new subscribers in 2018; Apple gained 12 million during the same period.
Spotify has some ambitious plans for 2019 hoping to raise their subscriber numbers to between 117 and 127 million paying subscribers by the end fo 2019 a possible gain of 31 million subscribers. That number seems a little hard for them to achieve, but possibly more partnerships with hardware makers can help the streaming company stay ahead of Apple.