Spotify has 170 million users, 75 million with subscriptions

Spotify has announced that the service has 170 million monthly active users. Of these, 75 million have a paid subscription. Most paying users, 40 percent, come from Europe.

The number of Spotify users is still growing rapidly and more and more people are paying for the music streaming service. The total number of users has grown by 30 percent from a year ago and the growth in paying users is 45 percent.

The quarterly figures that Spotify has released are the first since the company has been listed on the stock exchange. In the past three months, the service had a turnover of 1.14 billion euros. This is largely due to the paying subscribers, the free users yielded 102 million euros through income from advertisements.

Compared to a year ago, turnover is 26 percent higher. Below the line, Spotify records a loss of 41 million euros. That is less than last quarter, when a loss of 87 million euros was made and the same quarter a year ago, when the service still made a loss of 137 million euros.

Spotify does not expect to make a profit for the time being. The service also spends all the money that comes in. In the next quarter, Spotify expects to have 175 to 180 million users, of which 79 to 83 million with a paid subscription. By the end of 2018, that should be 92 to 96 million paying users.