Spotify appears to be improving its premium subscriber count in its latest earnings report. That''s a 15-percent increase year over year and an additional 2 million in comparison to the end of 2021. Total monthly active users increased 19 percent YoY to 422 million, up from 406 million last year.
Spotify was initially expected to reach 183 million subscribers in Q1, claiming that it missed this level owing to suspension of its services in Russia. It lost 1.5 million paying users because of this, and it expects to see an additional 600,000 disconnects in the second quarter. This year, it''s still a remarkable increase.
From 2021, we maintained another strong quarter build on momentum. Grateful for the @Spotify team''s tireless work on behalf of creators and listeners around the world https://t.co/jnNPFgm9YK pic.twitter.com/ddq1NiJf5n
In January, Neil Young and Joni Mitchell removed their tracks from the platform to protest the spread of vaccine misinformation. Soon after, #SpotifyDeleted began trending on Twitter as more people started boycotting the company.
According to a study from MIDiA, Spotify was the world''s largest audio streaming service. It was able to share a 31% market share in Q2 2021, with Apple Music falling short with a 15% market share.
In other news, Spotify''s useless audio streaming platform, aptly dite HiFi, hasn''t had a formal release date. The company, initially unveiled in February 2021, claimed it would launch later that year.