Spotify has reportedly cross 320 million monthly active users and 144 million paid subscribers. The numbers increased by 29 and 27 percent respectively year-over-year, the company announced in its latest earnings release.
User growth was driven by marketing campaigns in India, as well as the service’s launch in Russia and 12 surrounding markets. The company called Russia its most successful new market launch to date.
The service’s user and subscriber growth puts it comfortably ahead of rivals services from Amazon and Apple.
However, despite Spotify’s quarterly user growth, and revenue growth of 14 percent to $2.32 billion, it still made a loss of $118 million in the quarter, down from a profit of $282 million a year earlier, according to The Wall Street Journal.
Spotify now has 1.9 million podcasts available on its service, up from more than 1.5 million last quarter. Spotify says that 22 percent of it monthly users engaged with podcast content in Q3, up from 21 percent last quarter.
