Spotify’s monthly active users jumped to 777 million in the second quarter, while paid subscribers reached 300 million, the company said, according to AP. The figures underscore continued growth for the global audio streaming platform, even as it forecast slower expansion ahead.
AP reported that Spotify added 16 million monthly active users from the previous quarter. The 300 million paid subscribers figure excludes ad-supported free listeners and came in 7 million above the prior quarter and 1 million above market expectations.
The company also said second-quarter operating profit rose 61% from a year earlier to 655 million euros, or about $753.71 million. Revenue increased 14% to 4.8 billion euros, or about $5.5 billion.
Looking ahead, Spotify said third-quarter growth will likely slow and projected about 11 million net new subscribers. The company also launched “Personal Podcasts,” short AI-generated podcasts.
