Spotify has released its Q2 2021 financial results and things seem to have gone pretty well for the company during the quarter. The biggest news was Spotify announced it now has 165 million paid subscribers. That’s up 7 million subscribers from last quarter and more than the 60 million Apple Music subscribers Apple last reported having in 2019 and more than Amazon Music’s 55 million subscribers the company reported having in 2020.
Apple is believed to have between 70 million and 80 million subscribers now but hasn’t updated its official numbers since 2019. Either way you look at it though, even if Apple and Amazon both have 80 million subscribers by now, combined that’s still fewer than Spotify’s paying subscribers.
As for the rest of Spotify’s Q2 2021, the company reported 365 million monthly active users—a growth of 22% YOY. Total revenue was €2.33 billion, or about $2.75 billion. That’s an increase of 23% YOY. Going forward, Spotify is forecasting 170 million to 174 million paid subscribers by the end of Q3 2021 and 177 million to 181 million paid subscribers at the end of Q4 2021.