Spotify closed its second calendar quarter this year with 108m subscribers and 232m total Monthly Active Users (MAUs).
In a new financial update today (July 31), SPOT confirmed that its premium subs count was up 31% year on year (on the same three months, to end of June, in 2018) – but below the midpoint of its guidance range of 107-110m.
The 108m figure represents a climb of 8m on the 100m subscribers Spotify attracted in the prior quarter of this year.
Worth remembering: Apple revealed last month that Spotify rival Apple Music had recently passed the milestone of 60m paying subscribers, though this figure included free trialists.
Interestingly, Spotify noted to investors today: “We have reached an agreement with two of our four major label partners on the renewal of our global sound recording licenses, and are in active discussions with the other two.