Spotify has zoomed previous 300 million subscribers for the primary time, the corporate mentioned on Tuesday. The streaming service additionally reached 777 million month-to-month energetic customers within the second quarter, 12% greater than a 12 months earlier.
Notably, the corporate noticed its subscriber base swell by 9% within the quarter regardless of raising subscription prices in a number of areas this 12 months. The platform has tried to diversify its choices by introducing health content material, narrations of magazines, integrating concert ticket sales, and even promoting physical books.
The corporate reported quarterly income of €4.8 billion ($5.52 billion), up 14% from a 12 months earlier.
Spotify has targeted strongly on constructing AI options in the previous few months. It has launched instruments to create personalized podcasts primarily based on content from different sources. It even launched a NotebookLM-like characteristic as an experimental desktop app in Could.
The streaming service has additionally added AI-powered Q&A and briefing-generation options to podcasts; partnered with ElevenLabs for an Audiobook creation device; and struck a deal with music labels to allow users to make fan-generated remixes. Final month, it launched a new conversational AI assistant, which lets customers steer content material on the app utilizing prompts.
The platform is seeing its subscriber counts develop regardless of rising backlash in opposition to its internet hosting of AI-generated music. To appease its customers, Spotify has added a verification system for artists, and final 12 months launched elective labeling for AI-generated music.
Within the absence of efficient programs for figuring out AI music, customers are resorting to different providers like SoullessMusic.com and SlopTracker, 404 Media reported final month.
