Spotify’s monthly active users (MAUs) surged 27% to 551 million, up 36 million, and subscribers grew 17% to 220 million, up 10 million.
The increase comes as Spotify followed its competitors to raise subscription prices in 50 countries.
Revenue and losses grow
Total revenue grew 11% over the previous year to $3.53 billion. But losses at Spotify also grew to $273 million (or – $123 million on a constant currency basis) partly because of Q2 expenses related to Spotify’s “efforts to become a more efficient and stronger business.” including employee buyouts and severance packages.
MORE: Spotify confirms price increases in 50 countries
Bruce Houghton is the Founder and Editor of Hypebot, a Senior Advisor at Bandsintown, President of the Skyline Artists Agency, and a Berklee College Of Music professor.
