More than double Apple Music! Spotify has 100 million paid subscribers worldwide

According to The Verge, Spotify now has more than 100 million paying users worldwide, setting a new milestone for the company with a year-on-year growth rate of 32%. If free users are included, Spotify has 217 million monthly active users, of which 2 million are from the Indian market, which the company just entered in February this year.

       Spotify also expects that the revenue from its podcast service will grow rapidly in 2019, and it will develop better advertising models in the future to deliver ads that are closer to its target audience. The company recently acquired podcast companies Gimlet Media, Anchor, and Parcast, and currently offers more than 250,000 podcast channels on its platform.

       Globally, Spotify has far more paying users than Apple Music, even twice as many as the company. However, according to the Wall Street Journal, if we only look at the US market, Apple's users have surpassed Spotify.

       Spotify expects to have 222 million to 228 million users by the end of the quarter, with 107 million to 110 million paying subscribers.

       Although Spotify's user base continues to grow, the company is still losing money, losing about $158 million from January to March. Foreign media Venture Beat believes that Spotify obviously needs to find a business model that allows them to continue to make profits, but because many people use this platform, the company's overall performance is still optimistic, with an annual revenue growth rate of 33%.

       According to USA Today, Stifel analysts John Egbert and Scott Devit also believe that the company continues to expand its subscriber base and enter new markets, and performed well in the first quarter, so they continue to rate its stock as "buy."