Spotify Adds 7 Million More Paying Subscribers for the Third Quarter of 2022

October 26, 2022 By Raulf Hernes

(Image Credit Google)

On Tuesday, Spotify released its Q3 2022 Update, which reveals that the streaming service has been adding users since the previous quarter. According to a report, Spotify currently has 195 million paying users after adding 7 million new ones during the previous quarter. The streaming platform now has a total of 456 monthly active users, an increase of up to 20%, after adding the 273 million free members. This growth is the biggest they have seen thus far. Spotify released its Q3 2022

Chief Executive Officer Daniel Ek commented on these figures on the earnings call and noted that the business continues to perform successfully despite suffering global volatility. With one quarter remaining in a year marked by conflict, a persistent pandemic, inflation, supply-chain disruptions, and predictions of a worldwide recession, he continued, "I am incredibly happy of all that we have accomplished and that, in spite of all of this, we are exactly where we thought we'd be." Increase in Subscription Plan Prices Also, Spotify has been debating boosting the cost of its subscription plans in the United States to match those of Apple Music and YouTube Premium. According to Ek, this issue is now being discussed with the label partners of the business. I'm optimistic about the forthcoming year and what it means for our service's pricing, he continued.

By Raulf Hernes

If you ask me raulf means ALL ABOUT TECH!!

Spotify Adds 7 Million More Paying Subscribers for the Third Quarter of 2022

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