Most of us are already familiar with Spotify. For those who know less, it is the largest media streaming service in the world that allows listening to different genres of music from different artists. It also lets you listen to podcasts and create, edit and share your playlists with others.
In this post, we bring to you some of the amazing facts and information about Spotify that you might not have known about.
You might be surprised to find that Spotify is a Swedish company. The official service started in 2008 though the company was founded in 2006. It was introduced to the United States in 2011. It has several headquarters across the world but the international headquarter is situated in Stockholm, Sweden.
Though it is the biggest music streaming service, it is not available for use throughout the world. It is accessible only in 79 countries at the time.
The total valuation of Spotify was $29.5 billion in 2019 which was about 1.25 times the projected valuation. The growth is because of the spike in demand for a high-quality entertainment app.
Monthly Active Users
As a rapidly growing music streaming service, Spotify reports about 320 million monthly active users as of September 2020. They currently have more than 115 million premium subscribers around the world.
Spotify offers two types of subscriptions. The Free plan is free of charge and has some limitations on usage. There are ads and the audio quality is limited to 160kbit/s. The Premium subscription, however, gives you access to all the features including the ability to download songs. The audio quality is 320kbit/s and there are no ads. There are other plans like ‘Family Subscriptions’ and ‘Student Subscription’ that give special discounts to those eligible.
The top competitors of this music service are Pandora, YouTube, Amazon Prime Music, Google Play Music, SoundCloud and Apple Music. Of all, Apple Music is the biggest rival of Spotify for its newest features and offerings.
Though Spotify rules the hearts of all types of users, one-fourth of the user base comprises of millennials in the age of 25-34. It is a male-dominant platform and is slowly gaining popularity among female users. According to the reports of 2019, about 45 percent of Pandora users have transitioned to Spotify.
These stats suggest that Spotify is an excellent platform for those who want to promote their music and grow as an artist. There are several ways you can grow your profile on this app and Buy Spotify Followers to leverage the power of this platform.
As per the latest stats, Spotify offers more than 50 million tracks and 3 billion playlists categorized by theme, age, mood and gender. There are over 450 podcast lists available on this platform with new ones added regularly.
Spotify is available on different platforms but tablets and smartphones are the most used. About 52 percent of Spotify users access the service from their smartphones while 10 percent use tablets to listen to music on this platform.
A Spotify user spends 148 minutes on average on different devices. On average, a user listens to tracks from 40 artists in a week.