BusinessDay

Spotify hits 182 million premium subscribers in Q1 2022

As of the first quarter of 2022, Spotify had 182 million premium subscribers worldwide, up from 158 million in the corresponding quarter of 2021.

Spotify’s subscriber base has increased dramatically in the last few years and has more than doubled since early 2017.

Premium subscribers, who account for most of the company’s revenue, rose to 182 million from 158 million, while advertising-supported revenues increased by 31 per cent to EUR 282 million.

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Spotify is a music streaming service originally founded in 2006 in Sweden. The platform is used on various devices and allows users to browse through a catalogue of music licensed through multiple record labels, as well as create and share playlists with other users.

According to Spotify, “We expect this new offering to launch later this year. Users who have downloaded Spotify from google play store will have the option to pay with Spotify payment system or google play billing for the first time.”