# Spotify’s paid music subscriber base rises to 130 million, beats quarterly estimates | Tech News (HT Tech) > Spotify expects premium subscribers in the range of 133 million to 138 million in the second quarter of this year. The company, however, may have to weather the economic slowdown. # Spotify’s paid music subscriber base rises to 130 million, beats quarterly estimates ## Spotify expects premium subscribers in the range of 133 million to 138 million in the second quarter of this year. The company, however, may have to weather the economic slowdown. Aug 20 2022, 20:39 IST ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook.png) ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook-hover.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Share.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Shareclicked.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp-hover.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter-hover.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook-hover.png) ![Bookmark](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmark.png) ![Bookmarked](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmarked.png) ![Spotify now has 130 million paid subscribers](https://images.hindustantimes.com/tech/rf/image_size_960x540/HT/p2/2020/04/29/Pictures/screen-smartphone-projection-illustration-headset-spotify-picture_fb1fcece-8a1c-11ea-804e-137f71f5151d.jpg) Spotify now has 130 million paid subscribers (REUTERS) ![Author Photo](https://images.hindustantimes.com/tech/static/revamp/images/png/HTTech-new-circle-logo.png) ### By REUTERS Spotify Technology SA on Wednesday reported a better-than-expected 31% jump in paid music subscribers to 130 million and a 22% rise in revenue in the first quarter, weathering a slowdown in ad sales due to the spread of the coronavirus. Shares of the Swedish music streaming firm rose 2% in trading before the bell. Spotify, which launched its service over a decade ago and faces stiff competition from Apple Inc and Amazon.com Inc, earns by selling music subscriptions and showing ads to free users. Also read click here. "We are fortunate that as a business we are able to operate with very little disruption and our hope is that providing music, information, and an escape for many can provide some joy and comfort," the company said in a statement. ALSO READ: Spotify, Warner Music Group renew partnership, helps Indian users get wider catalogue For the second quarter, Spotify expects premium subscribers in the range of 133 million to 138 million. Analysts were expecting 136.5 million, according to IBES data from Refinitiv. It also forecast total revenue in the range of 1.75 billion euros ($1.90 billion) to 1.95 billion euros, below expectation of 2.02 billion euros, according to IBES data from Refinitiv. Spotify said it started seeing a slowdown in ad sales in the last weeks of March as buyers tightened their purse strings due to the spread of the cornonavirus. First-quarter premium subscribers, however, rose 31% from a year earlier. Analysts were expecting 128.6 million paid subscribers. Revenue rose to 1.85 billion euros for the three-months ended March 31 from 1.51 billion euros a year earlier. Analysts were expecting 1.86 billion euros. The company reported a loss attributable to shareholders of 20 euro cents per share. Analysts were expecting a loss of 49 euro cents per share. Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. 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