Spotify Is Growing More with Its Podcast Strategy

The music streaming platform Spotify is gaining a lot of subscribers by giving services like podcasts. The platform has gotten 188 million subscribers recently.

Spotify is the major music streaming platform of the present time. The number of premium subscribers of this platform has increased to 188 million in the second quarter. The monthly active users of Spotify are approximately 433 million. Over years, the number has increased drastically.

This company has experienced 14% and 19% growth in premium users and monthly active users. Currently, it is the largest music streaming platform that is available to everyone.

This platform is getting so many users for its innovative service. Along with the vast collection of songs, they also give facilities of podcasts, which have brought more numbers of listeners. This is the reason for the growth behind this platform. It has pushed Spotify’s earnings to a huge scale.

On this platform, podcasts like ‘The Joe Rogan Experience’ and ‘Breaking Bread’ is available. There are a huge collection of podcasts that are available on this platform.

This company had a loss of nearly about $127 million in this quarter, but they are prioritizing subscriber growth over quarterly profit. Now they are focusing more to give a better quality of their service to listeners rather than making more profits. They are going to attempt audiobooks as their next project according to the news.

Spotify hasn’t made any announcements for its latest tier, named Spotify HiFi. It is going to be a higher-quality subscription, which they announced in February 2021. According to Spotify, this new tier was about to launch by the end of last year but still, they haven’t introduced any service like this.

Still now, there is no comparison of their service with other major music platforms like Amazon Music or Apple Music. This company is holding the number 1 position by giving the best assistance.

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