The music streaming platform hopes to reach one billion users by 2030.
New record broken for Spotify. The world’s number one audio streaming platform recently passed the milestone of 500 million users. “Spotify continues to be largely the leader in audio streaming in the world”, welcomed Antoine Monin, general manager of Spotify France & Benelux, on the Tech&Co set.
A success that adds to another record recently broken: Spotify has become the first audio streaming application to cross the bar of 200 million paying subscribers, at 205 million precisely. And this despite the delay of France in music streaming compared to other countries like the United States.
“But France is catching up in terms of adoption rates,” notes Antoine Monin. Subscription music streaming revenues jumped 11% in France between 2021 and 2022, according to the latest report from the Syndicat national de l’édition phonographique. “The music market is in the process of reconstituting the turnover of the great years of the CD”, applauds Antoine Monin, who recalls that Spotify donates 70% of its income to the music industry.
Concurrence de TikTok
Despite this generally positive context, Spotify is not immune to criticism from many artists, who accuse the platform of offering too low pay per listening. “At the time of the CD, there were very few elected officials who were distributed and who had the chance to be discovered”, defended Antoine Monin.
“Today there are many more suitors, but the number of elected officials is necessarily lower,” notes the official.
Antoine Monin adds that the platform is developing tools to make it easier for artists to sell concert tickets and other derivative products, and thus promote a virtuous circle.
Spotify is not immune to the difficulties that affect all platforms, from consequent layoffs to massive competition from TikTok. The streaming platform has also announced that it will soon have a facelift: the application will soon sport a completely revised design and very inspired by TikTok which will give much more space to video, with a vertical thread where will scroll through the clips of your favorite music or podcasts. A change that should help it reach its new goal: one billion users in 2030.
