Spotify Exceeds 500 Million , Monthly Active Users.<br />The Verge reports that Spotify <br />boasted over half a billion users as of March 31.<br />Compared to the same time <br />last year, that is a 22% increase <br />for the streaming service. .<br />According to CEO Daniel Ek, this is <br />Spotify's second-largest quarter of <br />user growth in the service's history.<br />Spotify now has 210 million paid subscribers, also <br />showing a significant 15% increase year-over-year.<br />The Verge reports that the news comes <br />following a quarter in which Spotify looked <br />to streamline its operations and cut costs.<br />The Verge reports that the news comes <br />following a quarter in which Spotify looked <br />to streamline its operations and cut costs.<br />In an earnings call, Ek said <br />that the service's critical priorities for <br />2023 were "speed and efficiency.".<br />Despite the increase in subscribers, Spotify posted <br />a $248 million net loss in the first quarter of 2023.<br />The Verge reports that Spotify is largely <br />thought to have more paid subscribers <br />than any other music streaming service.<br />The Verge reports that Spotify is largely <br />thought to have more paid subscribers <br />than any other music streaming service.<br />While Tencent and YouTube have more <br />monthly active users, both are hard to compare <br />with Spotify, as they offer very different services.<br />While Tencent and YouTube have more <br />monthly active users, both are hard to compare <br />with Spotify, as they offer very different services.<br />The latest earnings report offered no update <br />on when Spotify's new HiFi tier, which <br />will offer lossless audio, will be available.<br />The latest earnings report offered no update <br />on when Spotify's new HiFi tier, which <br />will offer lossless audio, will be available
