Technology

Spotify reports that podcast listening increased by 200% during Q4

The music streaming leader reached a 29% grow of paid users in relation to the previous year

Spotify revealed Q4 earnings with a 200% growth in podcasts listening
Spotify revealed Q4 earnings with a 200% growth in podcasts listening. Photo: ShutterStock

Even with big competitors on the music streaming market, Spotify keeps aligned with the market expectations and achieving the forecasted rates. The company has just released its Q4 results and revealed that it has already reached 271 million subscribers from which 125 million are paid users, up to 29% from the previous year number. About Q4, the company stated that it was “the highest net add quarter we’ve ever experienced, and the fastest we’ve ever added 10 million subscribers,” according to TechCrunch

In addition, the streaming’s revenue is up 24%, reaching $2 billion (€1.9 billion) in the last quarter. 

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Regarding the last forecasts, Spotify hit the nail on the head. The market was expecting the company’s user numbers between 255 million and 270 million with paid subscriptions between 120 million and 125 million, besides the forecasts that have previously pointed out the company’s earning between €1.74 billion and €1.94 billion ($1.9 billion and $2.1 billion). 

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But the key role in the quarter goes to podcasts, the listening rates of this kind of content had a 200% growth in the quarter, according to TechCrunch. Not by coincidence, Spotify keeps acquiring more popular podcasts brandings, since 16% of its subscribers are listening to them. Currently, the music streaming already counts on 700,000 podcasts titles on its portfolio and to keep focusing on improving the user experience of the users that are listening to it.