Spotify Reports 40 Percent Increase in Premium Subscriptions in Q2 2018
Promotions and a redesigned UX for the ad-supported tier contributed to the increase in paid subscriptions.
Though Spotify reported an operating loss for the second quarter of 2018, the popular streaming music service also reported growth in paid subscriptions and revenue. At the end of the second quarter, Spotify (NYSE: SPOT) had 180 million monthly active users, a 30 percent increase, and 83 million premium subscribers, a 40 percent increase. Total revenue for the quarter was €1.273 million, a 26 percent increase year-over-year.
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