Spotify records historic 15 million new premium subscribers
When Spotify launched its streaming service back in 2008, only a few people would have thought that it would become the world’s number-one music platform.
Fifteen years after its launch, Spotify continues surging in popularity, reaching more subscribers than ever.
According to data presented by OnlyAccounts.io, more than fifteen million people subscribed to Spotify Premium in the first half of 2023, the biggest H1 growth in the platform`s history.
Spotify`s subscriber base has increased dramatically in the last few years. According to Statista and the official company data, the number of people paying for Spotify Premium has nearly tripled since 2017, with the platform adding between 25 and 30 million subscribers each year. However, 2023 might set a new record, as the platform saw the biggest H1 subscriber growth in its history.
Between 2017 and 2019, Spotify reported roughly 12 million new Premium subscribers in the year`s first half. After the Covid-19 hit in 2020, H1 subscriber growth jumped to 14 million. Statistics show that during the first six months of 2021, the platform registered 10 million new subscribers. The downsizing trend continued in H1 2022, with the number of new subscribers falling to only eight million, the number last seen in 2016.
However, 2023 brought a surge in Spotify Premium users. Statistics show that between December 2022 and June this year, 15 million people subscribed to Spotify Premium, pushing the total subscriber count to 220 million.
This figure is even more impressive when compared to other major players in the music streaming market. With 220 million users, Spotify Premium has two and a half times more subscribers than YouTube Music and Apple Music and nearly three times more than Amazon`s music streaming service.
Spotify continues to make in road in Nigeria where it continues to grow in popularity among the country’s urban music consumers. Rema made history when his single ‘Calm Down’ with Selena Gomez became the first Afrobeats song to surpass a billion streams.
Spotify recently hosted stakeholders a soiree in Lagos in celebration of Afrobeats increasing commercial peak that has seen the platform pay out over 11 billion naira in revenue to Afrobeats acts.