The streaming music platform Spotify recently published its financial results. In a statement to investors the company showed the figures on its growth, and also compared the data with Apple Music.
Spotify's fiscal results indicate that the platform has 248 million monthly active users during the third quarter, a jump of 30% over last year.
On the other hand, from Spotify they reported that their payment subscribers grew by 31% to reach the figure of 113 million users.
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Apple Music can't compete with Spotify
The streaming music services platform ensures that they are beating the competition, specifically Apple Music. In its note to investors (Apple Insider goes), Spotify talked about Apple Music:
?In relation to Apple, the available data shows that we are adding twice as many subscribers a month as they are. Additionally, we believe that our monthly engagement also doubles it. ?
Apple usually keeps Apple Music's growth data private, as well as the platform's losses and gains. It is true that Apple services have grown considerably in the last conferences of financial results, but the last time we learned something about the growth of Apple Music was when Eddy Cue mentioned that they had 60 million paid subscribers in June.
Although it is true that the growth of Apple Music has also been very fast. The Spotify Premium payment subscription was born in 2008, while Apple Music was launched in 2015. In just 4 years Apple has managed to reach 60 million paid subscribers.
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