Spotify hits 100 million paid subscribers, loses $158 million

New York Times:

In its first-quarter earnings report, Spotify said it had 217 million users around the world, up from 207 million at the end of last year. Of those, 100 million are paying subscribers, compared with 96 million at the end of 2018.

And:

In its most recent quarter, Spotify, which is based in Stockholm, had revenue of 1.5 billion euros, about $1.7 billion. That was a 33 percent increase from the same period a year earlier. It had a net loss of €142 million, or about $158 million.

Apple has about 56 million paid subscribers (the article says 50 million), recently passing Spotify in the US.

And:

Just as Spotify was set to open in India, Warner/Chappell, one of the biggest music publishers, sued the company, saying it had not secured the proper rights to include Warner/Chappell songs. Spotify set up shop in India anyway, saying its use of Warner/Chappell music was allowed under Indian copyright law. The case remains active in an Indian court.

Fascinating to watch this heavyweight battle unfold.