Spotify Revenue and Usage Statistics (2021)

Mansoor Iqbal

Updated: July 6, 2021

Spotify is the world’s biggest music streaming platform by number of subscribers. Users of the service simply need to register to have access to one of the biggest-ever collections of music in history, plus podcasts, and other audio content.

It operates on a freemium model. Free Spotify access comes with lower sound quality, and advertisements, and requires an internet connection. Those who pay for Spotify Premium can listen uninterrupted to high-quality recordings, and are able to download songs to any device on which they have the Spotify app.

Spotify was founded in 2006 in Stockholm, Sweden, by Daniel Ek and Martin Lorentzon. The two wanted to create a legal digital music platform to respond to growing challenge of online music piracy in the early 2000s.

Eventually convincing record labels to agree to share content in return for an aggregate 20% stake, Spotify was launched in 2008. It was an instant success, with a Facebook partnership helping it rise rapidly to prominence. Surviving the transition to mobile technology, Spotify went public in April 2018, with a market cap of $26.5 billion after the first day of trading.

It has drawn criticism from recording artists, who complain that it pays too little. Claims to democratize the music industry have also been questioned, with the world’s biggest four music labels responsible for 87% of content available on Spotify.

Unfair or not, with the days of physical music long behind us (with the exception of vinyl junkies), Spotify dominates the way we consume music in the 21st century. It does not have the run of the market, however. Its rivals include Deezer, Pandora, and most ominously Apple Music, which is aggressively seeking to gain market share.

Want to know more about Spotify, who Spotify’s users are, what Spotify is worth, and more? Then keep reading…

Spotify Overview and Key Statistics

Founded 2006
HQ Stockholm, Sweden
People Daniel Ek (CEO, cofounder), Martin Lorentzon (cofounder)
Company type Public (NYSE: SPOT)
IPO date 3 April 2018
  • 345 million Spotify users in Q4 2020, 155 million subscribers (Spotify)
  • Spotify users by region Q4 2020: Europe, 121 million; North America, 83 million; Latin America, 76 million; rest of world, 66 million (Spotify)
  • Spotify subscribers by region Q4 2020: Europe, 62 million; North America, 45 million; Latin America, 33 million; rest of world, 17 million (Spotify)
  • Spotify market share estimated at 32-34% (Midia/Counterpoint)
  • 55% of US Spotify users under age of 35 (Verto Analytics)
  • Daily Spotify listening times varies from 99 minutes in Europe to 140 minutes in North America (GlobalWebIndex)
  • 70 million songs on Spotify, with new songs added at a rate of 60,000/day (Spotify)
  • Ed Sheeran’s “Shape of You” most played song on Spotify, with 2.7 billion plays as of February 2021 (ChartMasters)
  • Drake the most streamed artist, with 36.2 billion lifetime plays (ChartMasters)
  • Spotify 2020 revenue at €7.8 billion ($10.8 billion), with operating loss of $581 million ($696 million) (Spotify)

Key Spotify User Statistics

Spotify users and subscribers, 2015 – 2020

Quarter Users, millions Subscribers, millions
Q1 2015 68 18
Q2 2015 77 22
Q3 2015 82 24
Q4 2015 91 28
Q1 2016 96 30
Q2 2016 104 36
Q3 2016 113 40
Q4 2016 123 48
Q1 2017 131 52
Q2 2017 138 59
Q3 2017 150 62
Q4 2017 160 71
Q1 2018 170 75
Q2 2018 180 83
Q3 2018 191 87
Q4 2018 207 96
Q1 2019 217 100
Q2 2019 232 108
Q3 2019 248 113
Q4 2019 271 124
Q1 2020 286 130
Q2 2020 299 138
Q3 2020 320 144
Q4 2020 345 155

Source: Spotify

Spotify users by region, millions, 2016 – 2020
Quarter Europe North America Latin America Rest of World
Q1 2016 38 34 18 7
Q2 2016 40 36 20 8
Q3 2016 42 39 22 9
Q4 2016 46 42 24 11
Q1 2017 49 45 26 12
Q2 2017 51 46 28 13
Q3 2017 54 49 31 15
Q4 2017 58 52 33 17
Q1 2018 61 54 36 19
Q2 2018 67 56 38 20
Q3 2018 69 59 42 21
Q4 2018 75 62 46 25
Q1 2019 78 63 48 28
Q2 2019 84 65 49 35
Q3 2019 87 67 55 40
Q4 2019 95 73 60 43
Q1 2020 100 74 63 49
Q2 2020 102 78 66 54
Q3 2020 109 80 70 61
Q4 2020 121 83 76 66

Source: Spotify

Spotify subscribers by region, millions, 2018 – 2020

Quarter Europe North America Latin America Rest of World
Q1 2018 30 23 15 7
Q2 2018 33 26 17 7
Q3 2018 35 27 17 8
Q4 2018 39 29 19 10
Q1 2019 40 30 20 10
Q2 2019 43 32 22 11
Q3 2019 45 34 23 11
Q4 2019 50 37 25 12
Q1 2020 51 38 27 14
Q2 2020 54 40 29 15
Q3 2020 58 42 30 14
Q4 2020 62 45 33 17

Source: Spotify

Spotify paying users vs key rivals

Service Users, millions
Spotify 155
Apple Music* 72
Amazon Music** 55
YouTube Music*** 30
Pandora 6.3

*June 2020 estimate, last official figure 60 million, June 2019

**January 2020

***October 2020, includes YouTube Premium

Source: Spotify/Statista/Reuters/Washington Post/SiriusXM

Spotify market share vs rivals, Q2 2020

Music streaming platform Market share
Spotify 34%
Apple Music 21%
Amazon Music 15%
Tencent apps 12%
YouTube Music 5%
Others 13%

Source: Counterpoint

Spotify market share vs rivals, Q1 2020

Music streaming platform Market share
Spotify 32%
Apple Music 18%
Amazon Music 14%
Tencent apps 11%
YouTube Music 6%
Deezer 2%
Pandora 1%
Others 16%

Source: Midia

US Spotify demographics vs other music apps

Demographic Spotify Apple         Pandora
18-24 26 17 11
25-34 29 23 28
35-44 16 22 21
45-54 11 15 17
55+ 19 23 22
Male 44 56 41
Female 56 44 59

Source: Verto Analytics

UK streaming app users by age

Age group Total, millions Percentage/total 2020 YoY growth vs 2019
<25 6.03 33% 7%
25-34 4.45 25% 10%
35-44 2.74 15% 15%
45-54 2.58 14% 30%
55+ 2.33 13% 90%

Source: ERA

Key Spotify Usage Statistics

Spotify usage time by region

Region Average daily usage, minutes
Asia Pacific 110
Europe 99
Latin America 117
Middle East & Africa 124
North America 140

Source: GlobalWebIndex

US Spotify usage vs others apps

Usage metric Spotify Pandora Apple
Monthly usage time 02:54:43 05:44:56 00:41:29
Sessions per month 61 43 12
Session duration 00:02:55 00:07:57 00:03:27

Source: Verto Analytics

Spotify devices by region

Region Mobile users % internet users Desktop users % internet users
Asia Pacific 67 39
Europe 54 40
Latin America 58 39
Middle East & Africa 56 46
North America 61 46

Source: GlobalWebIndex

Key Spotify Content Statistics

How many songs on Spotify vs rivals

Service Song library size, millions
Spotify 70
Apple Music 70
Amazon Music Unlimited 70
Tidal 70
YouTube Music 60
Deezer 56

Source: Spotify, Apple, Amazon, Tidal, Google, BBC, Deezer

Most-played songs on Spotify, all-time*

Artist(s) Song Plays, billions Released, MM/YY
Ed Sheeran Shape of You 2.72 01/17
Post Malone, 21 Savage Rockstar 2.12 09/17
Tones and I Dance Monkey 2.09 05/19
Drake, Wizkid, Kyla One Dance 1.98 04/16
The Weeknd Blinding Lights 1.97 11/19
The Chainsmokers, Halsey Closer 1.95 07/16
Post Malone, Swae Lee Sunflower 1.82 10/18
Lewis Capaldi Someone You Loved 1.77 11/18
Shawn Mendes, Camila Cabello Señorita 1.74 06/19
Ed Sheeran Thinking Out Loud 1.71 06/14
Drake God’s Plan 1.69 01/18
Billie Eilish Bad Guy 1.68 03/19
Ed Sheeran Perfect 1.64 09/16
James Arthur Say You Won’t Let Go 1.64 03/17
Imagine Dragons Believer 1.62 02/17
Camila Cabello, Young Thug Havana 1.56 08/17
Ed Sheeran Photograph 1.54 06/14
Juice Wrld Lucid Dreams 1.54 05/18
Justin Bieber Love Yourself 1.51 11/15
The Weeknd, Daft Punk Starboy 1.51 09/16

*as of February 2021

Source: ChartMasters

Most-played artists on Spotify*

Artist Lifetime plays, billions
Drake 36.2
Ed Sheeran 27.7
Ariana Grande 23.1
Post Malone 22.9
Bad Bunny 22
Eminem 21.8
The Weeknd 21.4
Justin Bieber 19.7
J Balvin 19.4
Taylor Swift 16.9

*as of February 2021

Source: ChartMasters

Most-played artist by year

Year Artist Plays, billions
2013 Macklemore & Ryan Lewis No stat
2014 Ed Sheeran 0.86
2015 Drake 1.8
2016 Drake 4.7
2017 Ed Sheeran 6.3
2018 Drake 8.2
2019 Post Malone 6.5
2020 Bad Bunny 8.3

Source: Spotify

Most-followed artists on Spotify*

Artist Followers, millions
Ed Sheeran 76.3
Ariana Grande 58
Drake 52.9
Justin Bieber 42.4
Eminem 41.7
Rihana 41.1
Billie Eilish 39.6
Taylor Swift 37
Imagine Dragons 32.6
Queen 32.1
Shawn Mendes 31.4
Post Malone 31.2
Bad Bunny 30.1
Marshmello 29.4
Maroon 5 29.4
BTS 29.2
Coldplay 29
The Weeknd 29
Bruno Mars 28.8
Alan Walker 26.8

*As of February 2021

Source: ChartMasters

Spotify yearly streaming share by label

Label 2018 2019 2020
Majors + Merlin 85% 82% 78%
Majors 70.3% 68.9%
Merlin-Indies 11.7% 9.1%
Non-Merlin Indies + Artists 15% 18% 22%
Non-Merlin Indies 12.2% 15.7%
Artists 5.8% 6.3%

Source: Midia

Key Spotify Revenue Statistics

Spotify revenue by quarter, 2016 – 2020

Quarter Revenue, EUR millions
Q1 2016 619
Q2 2016 714
Q3 2016 747
Q4 2016 872
Q1 2017 902
Q2 2017 1007
Q3 2017 1032
Q4 2017 1149
Q1 2018 1139
Q2 2018 1273
Q3 2018 1352
Q4 2018 1495
Q1 2019 1511
Q2 2019 1667
Q3 2019 1731
Q4 2019 1855
Q1 2020 1848
Q2 2020 1889
Q3 2020 1975
Q4 2020 2168

Source: Spotify

Spotify annual revenue, 2015 – 2020

Year Revenue, EUR billions
2015 1.9
2016 3
2017 4.1
2018 5.3
2019 6.7
2020 7.8

Source: Spotify

Spotify ARPU by quarter, 2018 – 2020

Quarter Spotify ARPU, EUR
Q1 2018 4.72
Q2 2018 4.89
Q3 2018 4.73
Q4 2018 4.89
Q1 2019 4.71
Q2 2019 4.86
Q3 2019 4.67
Q4 2019 4.65
Q1 2020 4.42
Q2 2020 4.41
Q3 2020 4.19
Q4 2020 4.26

Source: Spotify

Spotify monthly ARPU vs Netflix, 2018 – 2020

Quarter Spotify ARPU, USD Netflix ARPU, USD
Q1 2018 5.11 10.38
Q2 2018 5.30 10.47
Q3 2018 5.13 10.22
Q4 2018 5.21 10.02
Q1 2019 5.10 10.12
Q2 2019 5.27 10.88
Q3 2019 5.06 11.04
Q4 2019 5.11 10.90
Q1 2020* 4.79 10.51
Q2 2020 5.33 10.62
Q3 2020 5.06 10.99
Q4 2020 5.15 10.88

*We’re faced with the challenge of how to account for shifting dollar-euro exchange rate. Spotify ARPU up to Q1 2020 is calculated at the April 2020 rate of $1.08 to the euro. Q2-Q4 2020 is calculated at the February 2020 rate of $1.21.

This effect means that from a global perspective Spotify ARPU seems to have climbed, though in real terms it has fallen.

Source: Spotify/Netflix

Spotify gross profit by quarter, 2017 – 2020

Quarter Gross profit, EUR billions
Q1 2017 105
Q2 2017 232
Q3 2017 230
Q4 2017 282
Q1 2018 283
Q2 2018 329
Q3 2018 342
Q4 2018 399
Q1 2019 373
Q2 2019 434
Q3 2019 441
Q4 2019 474
Q1 2020 472
Q2 2020 479
Q3 2020 489
Q4 2020 575

Source: Spotify

Spotify gross profit by year, 2015 – 2020

Year Gross profit, EUR billions
2015 0.2
2016 0.4
2017 0.8
2018 1.4
2019 1.7
2020 2.0

Source: Spotify

Spotify operating loss, 2009 – 2020

Year Operating loss, EUR millions
2009 -18.8
2010 -28.5
2011 -45.4
2012 -83.6
2013 -63
2014 -188
2015 -230
2016 -539
2017 -1235
2018 -78
2019 -186
2020 -581

Source: Spotify

Spotify annual costs by area, EUR millions

Area 2016 2017 2018 2019 2020
Sales and marketing 368 567 620 826 1029
R&D 207 396 493 615 837
General and administrative 175 264 283 354 442
Total 750 1200 1400 1800 2300

Source: Spotify

Spotify valuation/market cap

Date Spotify valuation/market cap, USD millions
Apr-18 (IPO) 26.6
Jul-18 30.3
Oct-18 32.4
Jan-19 21.4
Apr-19 25.5
Jul-19 26.3
Oct-19 19.7
Jan-20 28.8
Apr-20 23.7
Jul-20 49.1
Oct-20 47.1
Jan-21 59.7
Mar-21 52.3
Feb 21 (all-time high) 69.4
Dec-18 (all-time low) 19.4

Source: Macrotrends

Other Key Spotify Statistics

  • Spotify available in 171 markets (Spotify)
  • Average hours spent listening to Spotify per month stands at 25 hours (Goodwater Capital) 
  • 44% of users listen to Spotify on a daily basis (Goodwater Capital) 
  • Spotify US penetration 23% among males and 20% among females (Statista)
  • 55% of Spotify users aged 16-40 listened to more music due to the circumstances in 2020 (Spotify)
  • 60,000 new songs added to Spotify each day as of 2021, equivalent to 22 million per year, up from 40,000 in 2019 (Spotify)
  • Drake, WizKid and Kyla”s “One Dance” the first song to surpass 1 billion streams (MTV)
  • The Weeknd most streamed artist as of February 2021, with 72.2 million monthly listeners (Spotify)
  • Around a third of Spotify listening time is spent on Spotify-generated playlists, with another third going on user-generated playlists (Goodwater Capital) 
  • 68% of users Spotify users aged 16-40 discover new music through algorithms or online playlists (Spotify)
  • 2.2 million podcasts available on Spotify (Spotify)
  • 108% year-on-year increase in podcast listeners on Spotify reported September 2020 (Spotify)
  • 140% year-on-year increase in listeners to news & politics podcasts, 81% in educational podcasts, and 201% in health (Spotify)
  • “Today’s Top Hits” Spotify playlist is followed by 27 million people (March 2020) (Spotify)
  • Other influential playlists include “Top 50 Global” (16 million followers), “RapCaviar” (14 million) and “¡Viva Latino!” (11 million) (March 2020) (Spotify)
  • Average users listen to 41 unique artists per week (Spotify)
  • Increases in Spotify listeners using indoor devices over 2020, 28% desktop, 61% through speakers, and 55% on games consoles (Spotify)
  • Estimates vary on how much a Spotify stream is worth to artist: from $0.006-0.0084 to as low as $0.00318/stream (The Verge/Soundcharts)
  • Spotify claims that €21 billion paid out to rights holders since launch, as February 2021 (Spotify)
  • Spotify raised $2.6 billion in funding before going public (CrunchBase)

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