Spotify is the magnum opus of the music streaming industry. This music streaming application is based in Sweden and has become a leader in music streaming services. It bridges the gap between music listeners and their favorite songs. It has given a next-level experience to the music listening across the world. In this article, we would be knowing more about this music streaming app, and will also know some amazing statistics about it. These stats will let you know how demanding and the profitable music industry has become.
Spotify is the best music streaming app. It gives you access to millions of songs, podcasts, and also videos from artists all over the world. The users find it appealing as they can access the content by just simply signing up through their email or by Facebook. It is available for both free and premium versions. You can search for music and add them to your playlist and save the songs. There may be ads sometimes after your song but you have to purchase Spotify Premium to be able to listen to music without the ads. You are not able to listen to any song (even if you “Save” the song) offline unless you purchase Spotify Premium. Spotify Premium costs $10 per month. The user also has the option to choose music streaming quality. At normal quality one hour of playback will consume 50Mb of data. The data consumption will increase with better qualities.
There is also a lite version of Spotify which is making a presence in some developing countries. Cosmic Playlists has also become one of the top features of Spotify. In this feature, the users can enjoy the tone and theme of the music as per their astrological signs. Now let’s know the amazing stats of this music streaming app.
Stats & Facts about Spotify:
1. The total valuation of the Spotify App is $29.5 Billion.
In 2019, the company reached a total valuation of $29.5 billion. This is a nearly 25% increase in the valuation from 2018. This significant growth is the reason behind the spike in demand for a reputed entertainment app development company that can help chart a journey similar to Spotify.
2. Spotify has raised a total amount of $2.8 billion by fundraising:
Spotify has passed over 24 rounds of fundraising. The latest one was raised in January 2018 from a Secondary Market.
3. Acquisition of 18 organizations:
When you are considering Spotify and other music streaming apps, then you must take into account that Spotify has acquired 18 different organizations till now. Some of these are The Ringer, Soundwave, Seed Scientific, SoundBetter, Preact, Analytics, Parcast, Anchor, etc.
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4. Available on Multiple Platforms:
The most popular mobile operating systems are Android & iOS on which obviously Spotify is having millions of users. Apart from this, the company is also having users on other platforms such as macOS computers, and Microsoft Windows. There is also new functionality called “Spotify Connect” which is enabling users to listen to music from different audio systems.
5. The biggest competitors of Spotify are Amazon Prime Music, YouTube, SoundCloud, Google Play Music, and Pandora.
Among all these music streaming platforms, Apple Music is considered as the biggest rival of Spotify. In fact, from the recent revelation, Apple Music has overtaken Spotify in terms of paid US users.
App Stats of Spotify:
6. In July 2019, the Spotify app got more than 20 million installations:
The number of downloads is always the crown of an app. In July 2019, Spotify was the most downloaded app in the category of music streaming. It has more than 20 million installations which was an increase of 35% from July 2018.
7. Total Spotify Installations to date are 500 million:
Within just a decade, this music streaming app has got more than 500 million downloads.
8. Spotify is running its operations in nearly 79 countries:
Spotify is currently having operations in Austria, Japan, Canada, Australia, Egypt, and 79 other countries. It is planning to increase its demographics. It also indicates that music streaming is having huge demand and Spotify is on a mission to be available in every corner of the world.
9. The Lite app of Spotify is currently available in 22 countries:
You just need 10 MB of storage to install and operate the Spotify app. It is available in 22 countries including India.
10. 2.1 million users have installed the app:
As the Lite app is now available in 22 countries, there are more than 2.1 million users who are using the Spotify Lite App.
User Stats of Spotify:
11. There are nearly 299 million active users of Spotify:
As per the latest report of Spotify, there are nearly 299 million active users who are daily using Spotify.
12. Spotify has nearly 138 million premium users:
As of Q1 2020, the number of Spotify premium users reached the landmark of 138 million. This shows that even the paid version of Spotify is loved by the users.
13. More than half of the users are registered through Facebook SignUp
Spotify also gives the option of SignUp and log in through social media platforms such as Facebook. There is no need of creating an account that increases the acquisition rate.
14. Nearly half of the Spotify users are based in the USA:
47.7% of the Spotify users are from the USA, hence it shows that the USA is the best market to target for music streaming applications.
15. From India, there are 2 million Spotify Users:
India is not lagging in the music streaming industry. It is gaining space in the conventional method of listening to music. And 2 million Indians use Spotify is also a great benchmark.
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16. 29% of Spotify users are millennials.
One-quarter of the Spotify users are millennials but the app is ruling the hearts of users of every age.
17. More than half of the users on Spotify are male:
There should be no doubt in accepting this fact that Spotify is a male dominating platform with 57% of its users is male, but that doesn’t mean that it is not getting appreciation from the females.
18. 45% of Music listeners have migrated to Spotify from Pandora:
Pandora was the first music streaming application but now it is losing its users to Spotify. The reason can be anything, better features, user interface or pricing.
19. More than half of Spotify users use it on their smartphones:
52% of users on Spotify are listening to music on their mobiles or smartphones. While 10% of the users are using it on their tablets.
20. 2.4MB per minute is consumed by a Premium user
Well, it sounds strange but to listen to the best music quality on Spotify, a premium user has to devote 2.4MB per minute which makes 115MB per hour. Also, the subscription cost is quite higher in comparison to what is charged by its competitor Apple Music.
21. Spotify is used for an average of 148 minutes daily:
An average Spotify user listens to songs on Spotify for nearly 148 minutes every day on cross-platform devices.
22. You can find more than 450 thousand podcast lists on Spotify:
Spotify is famous for its huge number of playlists. There are around 450 podcast lists available on the platform, while many more are hoping to be added soon.
23. Nearly 50 million tracks and 3 billion playlists are available for the users.
As per the recent Spotify stats, you can find more than 50 million songs on the platform with 3 billion playlists that are curated on many different bases such as genre, artists, etc.
24. Every day 20 thousand songs are added to the platform:
Spotify gives a unique feature to its users that they are able to upload tracks on it using their personal devices. This creates a ripple effect by which nearly 20,000 songs are added to the platform every day.
Market and Revenue Stats:
25. Spotify has reported total revenue of $7.44 billion in 2019
This was an increase of 29% in the revenue when compared to last year.
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There was a time when we had to download the music & songs through 3rd party mediums. But now as the internet has become common and is now available in the hands of everyone, people now prefer apps to stream music. Now, you can find many kinds of music streaming apps in the Google Play Store, and App Store. If you are planning to develop similar music streaming app, then you can definitely consult us. We, at Amplework, are having expertise in developing on-demand apps as per your requirements.