Rivalry with Spotify on the streaming market is expanding month by month. Companies such as Google or Amazon are trying their hands in this aspect and they trying to get customers which for now use Spotify, but so far the market seems to be highly monopolized. The situation of Spotify during the third quarter of this year turned out to be better even than the initial forecasts of the company itself.
The report for the last three months indicates that during this time Spotify gathered as many as 248 million active users, and 113 million from this group decided to pay a premium subscription. Initially, the company assumed that in the same period it would be possible to reach the ceiling of 240 million users regularly using the portal. Financial revenues also proved to be better than the value assumed before start of the quarter. Between July and September, Spotify earned as much as 54 million euro, which compared to expected scenario looks impressive, because at beginning owners of Spotify assumed that a profit of 2 million euro is real during third quarter of 2019. Importantly, at the same time a year ago, Spotify recorded a loss of 6 million euro.