Report: Spotify adds 25mn users in Q4 in India
Music streaming platform Spotify has added 25 million monthly active users in the fourth quarter of 2020, in India. The company said this was better than expected growth in the country.
Total monthly active users grew 27 per cent year-over-year to reach 345 million in the quarter, Spotify said.
The streaming giant ended 2020 with 155 million paid subscribers, a growth of 24 per cent over the past year.
"Despite the global uncertainty of 2020, it was a remarkable year for Spotify. Following a strong Q2 and Q3, Q4 met or exceeded our guidance by nearly every metric," Spotify CEO and Founder, Daniel Ek, said in a statement.
The platform said that podcast usage has been a factor in the accelerated net additions.
It said that podcast consumption hours nearly doubled year-on-year and 25 per cent of its monthly active users now engage with podcasts, up from 22 per cent last quarter.
The platform also launched Spotify Premium Mini in India and Indonesia, which gives users daily and weekly access to a subset of their favourite Premium features for a lower price.
*Edited from an IANS report