The fact that people do not leave the house unless it is necessary due to the virus epidemic has significantly increased the internet usage worldwide. While services such as YouTube and Netflix are beginning to reach the highest utilization rates of all time, the number of Spotify Premium users also increased drastically
Paid Spotify users increased significantly
According to the 2020 first quarter report announced by Spotify, the number of paid users of the application increased by 31 percent and reached 130 million. In line with the increase in the number of subscribers, the revenues of the company also increased. In the first quarter, the company’s revenue increased from 1.51 billion euros to 1.85 billion euros. The share value of the company increased by 2 percent.
The free version of the application, which has free and paid versions, earns income from ads. In the paid version, with a monthly payment, you get a fixed income per user. We witness that digital media companies have seen huge increases during the Corona virus epidemic.
Due to the epidemic, the company’s employees also switched from home to work. The company, which has made no layoffs, has announced that it will reduce recruitment by 30 percent in the remainder of 2020. So which platform do you use to listen to music?