Spotify Technology SA, the world’s leading streaming platform, said on Monday it had hit 100 million paid subscribers as it reported a better-than-expected rise in first-quarter revenue. The results helped ease concerns Spotify was under significant pressure from rivals such as Apple Inc, whose 28 million U.S. paid subscribers of its music service surpassed Spotify’s 26 million in earlier April. Premium or paying subscribers at the end of the quarter were 100 million, up from 75 million a year earlier. Revenue rose 33 % to 1.51 billion euros ($1.69 billion), beating analysts’ estimates of 1.47 billion euros, according to IBES data from Refinitiv. ALSO READ: YouTube Music, YouTube Premium now available for Indian usersSpotify said it expects to have about 107 million to 110 million premium subscribers by the end of the current quarter and 117 million to 127 million subscribers by the end of the year.

Source: The North Africa Journal April 30, 2019 06:11 UTC