The reports are out and Spotify has proven that their growth remains persistent in their 2nd quarter reports for 2019. The Spotify Newsroom posted that there were 232 M Spotify users with 108 M subscribers which mean there was a 29% year-over-year (YoY) increase for monthly active users along with a 31% (YoY) boost in monthly subscribers.
Even though Spotify is toting the increases, there were some stockholders who presumed the increases would be larger; thereby, causing Spotify shares to decrease by as much as 5% after the statistics and earnings were reported. According to the Markets Business Insider, Spotify had projected an increase to 245 M Spotify users and 108.5 M subscribers. With Spotify now saying they will not achieve those numbers until the end of 3rd quarter, stockholders will be watching closely to verify that Spotify reaches the new predictions. However, since Spotify, as of July 31, 2019, had a year to date increase of 37% in shares, it’s doubtful that many find this slight setback alarming.
These statistics still keep Spotify as the worldwide streaming front-runner. In April 2019, The Wall Street Journal had reported that in the United States, paid Apple subscribers had surpassed those of Spotify with 28 M to 26 M paid subscribers respectively; nevertheless, with Apple reporting 60 M paid subscribers worldwide, Spotify is still leads by a large margin with their 108 M worldwide subscribers.