Spotify has surpassed the 200million unique users per month mark for the first time, attracting an additional 9million during the last quarter of 2018.
The exact share of new account holders that are paying for the service isn't clear— as of 30th June 2018 there were 87million premium users. It's good news for the brand given shares crashed to an all-time low in December, and suggests analysts were right not to underestimate its buoyancy.
Several changes to the platform have been made, aimed at both raising its appeal and boosting revenue. These include giving independent artists the option to upload their own tracks directly to the database for free, and new charges for some Spotify For Artists options. It has also been suggested that going forward podcasts could become an area of real growth for the business.
"[A] significant opportunity [exists] in podcasts," Spotify's Head of Global Communications said during the recent Consumer Electronics Show (CES) in Las Vegas.
"We’ve said all along, we want to focus on growth. We believe in being a profitable company, but first and foremost we have to grow and get to regions of the world that still don’t have Spotify," she added.