Spotify expects to reach just under 100 million paid subscribers by the end of 2018

Written by frtyfve Team

The streaming giant has announced its financial outlook for the full year, as it prepares to go public on April 3rd. This follows an important period of revenue growth.

As first reported by MBW, Spotify has told Wall Street that it expects to have between 92m and 96m paid subscribers by the end of 2018, which is a 30%-36% increase year-on-year. Such an increase represents a rise of around 23m on the 71m paid subscribers it confirmed it had at the end of 2017.

This announcement comes after the Recording Industry Association of America (RIAA) confirmed that streaming platforms powered a $1bn increase in growth of America’s recorded-music market. Spotify has recently expanded into a number of new territories. After going live in South Africa, Vietnam, Romania and Israel, Spotify’s service is now operating in 65 markets. Spotify remains the largest streaming service in the world with 71m premium subscribers and 159 million total users.

Spotify has also begun working on new technologies, with the ‘Spotify speaker’, ‘in-app voice assistant’ and ‘DJ-style auto-mixing function’ recently leaked.

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