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Spotify Packs on More Premium Subs in Q2 Than Expected to Reach 220 Million, Projects Slower Growth After Price Hikes

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variety.com

Todd Spangler NY Digital Editor Spotify, the world’s biggest music and audio streaming service, delivered strong numbers for the second quarter of 2023 — beating forecast user growth on paid subscribers and total listeners, while Q2 revenue was in-line with expectations.

But with newly announced price increases for Spotify Premium in dozens of markets including the U.S., the company is forecasting a smaller gain in paid subscribers for Q3.

The company netted 10 million new Premium customers in the quarter (over its expectations of 7 million), to stand at 220 million.

Overall, Spotify had 551 million monthly active users for the period, a pickup of 36 million sequentially — an all-time high for the company.

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