Spotify has announced its financial results for the first quarter of 2019, in the results the company also revealed that they now have 100 million paid subscribers.
The company has managed to grow its premium subscribers by 32% in a year and they now have 100 million premium subscribers.
Premium Subscribers grew to 100 million, up 32% Y/Y, reaching the high end of our guidance range of 97-100 million, and marking an important milestone in Company history. Outperformance was driven by a better than plan promotion in the US and Canada and continued strong growth in Family Plan. We also saw strong growth from the expansion of our Google Home Mini promotion, as well as the price reduction to our Spotify Premium + Hulu offering in the US.
The company also revealed that they have a total of 217 million users worldwide, 117 million are using the ad supported free service.