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Spotify hits 87 million paid subscribers

Spotify hits 87 million paid subscribers


It’s also nearing profitability

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Spotify’s latest quarterly earnings are in, and the streaming service now boasts 87 million paid Premium subscribers and 191 million total active monthly users. That’s up from the 83 million paid Premium subscribers Spotify announced back in July, via The Hollywood Reporter.

It’s not the biggest jump in subscribers for the streaming service, but it still helps Spotify maintain its lead over its biggest rival, Apple Music. In a recent report, it was estimated that Apple Music has 43.5 million subscribers (although that number isn’t directly from Apple).

Additionally, Spotify jumped from posting a €73 million ($83.3 million) loss in Q3 last year to a €6 million ($6.8 million) loss in this year’s Q3 results. The music streaming company is not quite profitable yet, but it’s getting closer, which good news for investors.