Spotify, one of the iconic online music streaming services has exponential increase of popularity in Malaysia besides Pandora and Last.fm. For each piece of music played, Spotify will provide an incentive to music rights holder and/or creator for their talent and work. By listen to authentic music source, you will be able to enjoy high quality music streams while your creator get to live their life.
Spotify has an increased subscriber since the last quarter from 83 million to 87 million. It also have 191 million active users who streams music in a frequent manner. While Spotify earns it revenue through premium subscription service, ads were included in free music streaming user but it was not enough to cover its revenue, instead of facing loss in 1.02 billion in Q2. In the new quarter, the increase of subscriber count has reduced its loss to 6.8 million!
In a longer term, Spotify hopes that it will reach 2.06 billion active users in Q4 with premium subscription count at 96 million!