Spotify hits 100 million Premium subscribers

Spotify has hit a big milestone for the service with over 100 million paid subscribers. The company says that paying subscribers rose 32% during the first 90 days of 2019 allowing it to hit the high-end of its forecast of 97 to 100 million users.

Spotify also reports that its monthly average user base grew 26% to 217 million users. Spotify, Apple, and Amazon are fighting for the lead in music streaming. Apple Music had more than 28 million paid subscribers as of early this month.

That is compared to the 26 million paid subscribers Spotify boasted at the time. Factors that helped with the massive growth included the Spotify deal giving free Google Home Mini speakers with a paid membership and the lower priced Spotify Premium and Hulu bundle packaged at $9.99 monthly reports USA Today.

Stifel analysts John Egbert and Scott Devitt said Spotify had “a solid quarter where Spotify continued to widen its subscriber lead vs. streaming music competitors and made progress with regard to new regions (India & Middle East) and its nascent podcasting business.”