Spotify sees a significant increase in the number of users in 2020

Music service Spotify has done very good business again in 2020. The company has released new figures. The number of active users has increased significantly.

Spotify with new quarterly figures

Music service Spotify has announced the figures for the fourth quarter of 2020 (pdf). This shows that the use of the service has continued to increase. The counter now stands at 345 million monthly active users. This has increased the number by 27 percent, compared to last year. A total of 74 million users were added to the originally Swedish music service.

Spotify also reports that podcasts have had a positive influence on the increase in the number of users. 2.2 million podcasts are now available and 25 percent of active users listened to at least one podcast in Q4 2020.

Spotify’s revenue for 2020 came to 7.8 billion euros, with a turnover of 2.1 billion euros in the last quarter. Despite that, the company still made a loss; 69 million in the fourth quarter. The loss for all quarters together amounted to 293 million euros.