When Spotify launched its streaming service back in 2008, only a few people would have thought that it would become the world’s number-one music platform. But fifteen years later, Spotify continues surging in popularity, reaching more subscribers than ever.
According to data presented by OnlyAccounts.io, more than fifteen million people subscribed to Spotify Premium in the first half of 2023, the biggest H1 growth in the platform`s history.
Spotify Hit 220 Million Premium Subscribers
Spotify`s subscriber base has increased dramatically in the last few years. According to Statista and the official company data, the number of people paying for Spotify Premium has nearly tripled since 2017, with the platform adding between 25 and 30 million subscribers each year. However, 2023 might set a new record, as the platform saw the biggest H1 subscriber growth in its history.
Between 2017 and 2019, Spotify reported roughly 12 million new Premium subscribers in the year`s first half. After the Covid-19 hit in 2020, H1 subscriber growth jumped to 14 million. Statistics show that during the first six months of 2021, the platform registered 10 million new subscribers. The downsizing trend continued in H1 2022, with the number of new subscribers falling to only eight million, the number last seen in 2016.
However, 2023 brought a surge in Spotify Premium users. Statistics show that between December 2022 and June this year, 15 million people subscribed to Spotify Premium, pushing the total subscriber count to 220 million.
This figure is even more impressive when compared to other major players in the music streaming market. With 220 million users, Spotify Premium has two and a half times more subscribers than YouTube Music and Apple Music and nearly three times more than Amazon`s music streaming service.
Spotify’s Premium Subscribers Make Less than 40% of Its Total User Base
Although Spotify`s subscriber base has grown substantially in recent years, it still makes up a smaller part of its total user count.
According to the company`s official data, Spotify hit 551 million monthly active users in Q2 2023, 30% more than in the same period a year ago. Moreover, the platform has never added as many users in a single quarter, with 36 million new active users.
However, over 60% of users, or 331 million, still have a free, ad-supported account. The remaining 39.9% are Premium subscribers. Statistics also show that the share of Premium subscribers has actually dropped in the past few years. Just three years ago, Premium subscribers made 46% of Spotify`s total user count, or nearly 7% less than this year.
