Spotify hits record 300 million premium subscribers

Spotify has officially deed a caller grounds with 300 cardinal premium subscribers.

In its second-quarter net study Tuesday, the Swedish streamer called it a “milestone nary audio streaming work has ever reached.” Spotify said premium subscribers grew 9% and its monthly progressive users climbed 12% to 777 million. Total gross accrued 14% to 4.8 cardinal euros (roughly $5.5 billion).

“We person a standard that fewer companies successful past person reached, a concern that is steadfast and compounding, and opportunities lone we are positioned to pursue,” Alex Norström, Spotify’s co-chief executive, said successful a statement. “Spotify lives crossed your full time — the commute, the workout, studying, gaming, the meal table, and sleep. At our scale, that is rare.”

Spotify besides announced a caller AI woody successful a quality merchandise connected Tuesday with the integer euphony licensing institution Merlin. The concern volition alteration artists crossed the 30,000 labels successful Merlin’s web to enactment successful Spotify’s upcoming AI tool. It hasn’t launched yet, but the extremity is to fto fans make AI-generated remixes and covers of existing songs connected the platform.

“This statement with Merlin ensures participating artists are credited and compensated, and that each instauration drives listeners backmost to the archetypal work,” Charlie Hellman, Spotify’s planetary caput of music, said successful a statement. “We’re arrogant to widen this exemplary to the autarkic community, and we look guardant to welcoming much partners arsenic we proceed to build.”

Looking beyond its latest AI partnership, the institution has made efforts to grow its AI footprint. Spotify precocious launched Personal Podcasts, an agentic AI programme that generates personalized audio episodes similar a regular briefing. The institution besides expanded its AI DJ to talk 4 caller languages, including French, German, Italian and Brazilian Portuguese.

To galore streaming services, AI has presented challenges and opportunities arsenic the audio platforms get flooded with AI-generated euphony tracks. For its part, Spotify added a verification badge to separate quality artists from AI, and Tidal banned AI-generated euphony from receiving royalties connected its platform. Deezer, a French streaming platform, precocious disclosed that up to 90,000 AI tracks are being uploaded to its level daily, representing much than 50% of its caller euphony uploads.

Founded successful 2006, Spotify maintains a ample beingness successful L.A.’s Arts District. Over the past 2 decades, it has go the world’s astir fashionable audio streaming subscription service, with implicit 100 cardinal tracks, 7 cardinal podcast titles, and 700,000 audiobooks. At the extremity of its 2nd quarter, the company’s workforce consisted of 7,302 full-time employees globally, and its operating income reached 655 cardinal euros (roughly $754 million).

“This 4th demonstrated that we are already gathering that future: amended engineering, faster shipping, caller products and caller ways for users to engage,” Gustav Söderström, Spotify’s co-chief executive, said successful a statement. “We are inactive successful the precise aboriginal stages of what is imaginable and volition proceed to person a precocious barroom for investments.”

In its adjacent quarter, Spotify said it expects premium subscribers and monthly progressive users volition turn to 305 cardinal and 788 million, respectively. Total gross is expected to scope 5 cardinal euros (roughly $5.7 billion).