Spotify just announced that it reached a big milestone – 100 million paid users. That’s almost half of the service’s total users. Those listening on the free tier are 117 million.
The official launch in India helped a lot last quarter as about million users signed up the first week and that number doubled in the next month or so. Unfortunately, though, even that’s not enough to propel Spotify into profiting.
The company lost about €142 million in Q1 2020, which is in contrast to December’s €442 million in profit. At least it’s less than last year’s Q1 when Spotify lost €169 million.