Spotify also announced it has secured new licensing deals with 2 major label partners.
That compared with 100 million premium subscribers and 217 million total active monthly users as of the end of March and 96 million and 75 million, respectively, as of the end of 2018.
The company, led by CEO Daniel Ek, also announced two new deals with major music labels. "We have reached agreement with two of our four major label partners on the renewal of our global sound recording licenses, and are in active discussions with the other two," it said without disclosing which labels it has struck deals with.
Of that revenue tally, the vast majority, $1.67 billion , came from premium subscribers, amounting to an increase of 31 percent year over year; ad-supported revenue totaled $184 million , an increase of 34 percent y/y. "We finished the second quarter with 108 million premium subscribers globally, up 31 percent year-over-year, but below the midpoint of our guidance range of 107-110 million," the company said. "Intake from our bi-annual campaign was in line with our expectations, monthly churn declined both sequentially and year-over-year to a record low 4.6 percent, and our winback percentage on gross ads reaccelerated quarter-over-quarter. However, intake into our student product was below plan.
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