The corporate has additionally registered over 144 Mn paid subscribers for its premium companies, accounting for 27% YoY progress
Spotify mentioned the MAU progress was pushed by success within the Indian market which outperformed expectations
Anchor, the Spotify vertical which manages the podcast creator base, has added greater than 25,000 podcasts from India this 12 months
Swedish music streaming large Spotify has registered a 29% year-on-year (YoY) progress in its international month-to-month lively customers (MAUs) reaching 320 Mn in Q3 2020, the corporate introduced at present. It has over 144 Mn subscribers for Spotify Premium companies, which is 27% increased on a YoY foundation.
Spotify mentioned the MAU progress was pushed by success within the Indian market which outperformed expectations, because of some key advertising and marketing campaigns delivering the outcomes.
Whereas Spotify didn’t announce India-specific numbers when it comes to the variety of premium subscribers, the corporate revealed that 22% of its MAU base in India engages with podcast content material. General greater than 1.9 Mn podcast titles can be found globally, the corporate mentioned in a launch.
Anchor, the Spotify vertical which manages the podcast creator base, has added greater than 25,000 podcasts from India this 12 months. India is at present the fastest-growing marketplace for Anchor, with 40% month-on-month progress this 12 months, the corporate mentioned in one other press launch. To mark the expansion within the podcasts class, Spotify will host the inaugural version of Spotify Podcasters’ Day on October 30, showcasing the highest podcast expertise from the county.
Spotify India head Amarjit Singh Batra added that between January and June, Spotify India noticed 5x progress within the variety of creators who used the Anchor podcasting companies.
Spotify, which was launched in 2008, made its entry into the Indian market in February 2019. Inside every week of its launch, the worldwide audio streaming large managed to hit 1 Mn customers in India. Gaana, Saavn, YouTube Music are a few of its opponents.
YouTube Music, which was already using on the success of the video streaming platform entered India in March 2019. Inside every week of its launch, Youtube Music had registered over three Mn downloads, leaving Spotify’s achievement just a little wanting pleasure.
In the meantime, Gaana had lately achieved 150 Mn lively customers and it noticed a 40% progress within the consumption of regional music and round 35% within the Bollywood music part. Gaana additionally revealed that it controls 30% of the market share in India.
Based on a report, Indians, on common, spend 20 hours each week listening to music whereas one other report predicts that the Indian music streaming market will attain $227 Mn by 2023.