Spotify released on Wednesday the quarterly results corresponding to the first fiscal period of the year, which has been irretrievably marked by the coronavirus pandemic. With the quarantine and confinement Spread across the globe, streaming platforms are also good indicators of how our routines have changed.
If in the case of Netflix this translated into an unusual increase in subscriptions during this period, in the case of Spotify they have not exceeded the expected expectations, but they have not gone far. This carries over to numbers that increase the number of monthly active users of the firm to 286 million worldwide (31% more than in the same period of the previous year) and that of members of one of the payment plans at 130 million (an annual percentage increase identical to the previous one).
However, the average revenue per premium user – subscribed to a payment plan – obtained by the platform has decreased compared to the previous quarter (4.42 euros per person compared to € 4.65). As they explain, this is due to the extension of many of the promotional plans that were activated in the last section of 2019, which allow you to use the service at a lower price.
Changes in habits
“Every day now resembles the weekend,” they say, referring to the modification of morning routines by the millions of people who are now confined to their homes, many unable to work. In this way, they have experienced a decrease in listening through car apps, wearables and through the web, compensated with an increase “of more than 50%” in those integrated into TV or video game consoles.
The instrumental and relaxation charts success, as well as podcasts focused on well-being and meditation, directly related to the longest time spent at home. Similarly, “listening time around activities such as cooking, housework, family time, and relaxing at home has increased in double digits in recent weeks.”
Trends that are expected to continue throughout the coming weeks, despite the fact that in several countries of the world they are already taking the first steps to resume their routine. At the moment, the forecasts of the Swedish platform are good, pointing to sustained growth and with the figure of 300 million users already in mind.
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