The Swedish music streaming service added 4 million new users in the last quarter. It now has 87 million monthly subscribers, a 40% year-on-year increase. It has 191 million monthly users, a 28% increase from the same time last year. It has also increased non-paying subscriber numbers by 20% to 109 million.
Apple is seemingly lagging behind in the battle for people’s ears. Results from April showed Apple Music had 50 million paying subscribers. Spotify is boosted by a deal with Samsung in which it is installed for free on its smartphones.
Revenues were up 31% and the firm’s results showed that it has dramatically cut its losses from $90 million to $6 million.