Spotify is currently the most popular streaming platform on the market when it comes to streaming music. If we take a closer look at the company's financial reports for the second quarter of this year, it turns out that even the coronavirus did not hinder the Swedish company too much, because in financial terms the company is doing really well in difficult conditions.
During the second quarter of this year, the company managed to increase the level of monthly active users to 299 million users. Compared to the second quarter of the previous year, this is an increase of 29%. The number of premium subscriptions purchased by users also increased (138 million compared to 108 million in the previous year). Spotify only saw a decline in free cash flow. This state of affairs was of course influenced by the coronavirus and the prevailing pandemic, which meant that the company had to secure bigger part of its property for possible problems in the nearest future.