Spotify has hit 113 million paid subscribers, according to its latest financial update, Music Business Worldwide reported. Apple Music hit 50 million paid subscribers in the final quarter of 2018.
The subscriber numbers were confirmed in a Q3 financial update today (October 28), in which SPOT confirmed that its premium subs count was up 31% year on year (on the same three months, to end of September, in 2018). The 113m is comfortably within the firm’s guidance range of 110-114m for Q3. The average paying Spotify subscriber across the world (ARPU) in Q3 2019 paid €4.67, down 1% YoY, but actually down 3% excluding the impact from foreign exchange rates. SPOT’s global Q3 Monthly Active User count (248m) was up 30% year-on-year, and up by 16m people quarter-on-quarter.
Check It Out: Spotify Reaches 113 Million Paid Subscribers