Spotify is expected to report this week a significant slowdown in the number of new subscribers in the first quarter, the latest pandemic winner to signal that the lockdown entertainment boom is over. In total, Spotify added 31 million new paying subscribers last year, as coronavirus lockdown boredom fuelled a boom in listening to music, and podcasts from Michelle Obama and Kim Kardashian to the Duke and Duchess of Sussex. However, in February, Spotify forecast that in a best-case scenario it would add 29 million new paying subscribers this year while at worst it expected 17m, almost half the total last year. Despite the expected cooling of growth, Spotify continues to experience a significant pandemic bump. “Apple’s podcasting subscription service is clearly both an offensive and defensive move against Spotify,” said Dan Ives, an analyst at Wedbush.

Source: The Irish Times April 25, 2021 17:11 UTC