Spotify use During Pandemic has Soared

Spotify usage has completely been derailed from the usual statistics. Obviously, spotify usage in cars have dropped because of the Stay-at-Home order. But Spotify usage at home on T.V. or game consoles have soared, reaching an increase of over 50% of usual number.

From their data, Spotify has found that everyday usage seems like a weekend. In the mornings, people are constantly streaming music on the apps that would often only happen more on the weekends.

More Spotify usage has been happening around their family during cooking, chores, family time, and relaxing at home with their numbers doubling. Spotify descriptions such as “chill” or “instrumental” have also seen an increase. This is most likely because an ambient sound is looked for while performing activities with the family.

More US consumers are seen to be using music as a stress reliever according to surveys. Spotify is proud of the fact that they are able to continue providing service with little disruption during this time of chaos.

Opposite of Spotify usage in the US, Italy and Spain has seen a decrease in streams.

People cancelling their subscriptions have said there reason for cancelling was due to the pandemic. They were also said to have renew their subscriptions when economic balance is restored.

Spotify has reached 130 million paid subscriptions, which is above forecasted numbers. But ad-supported revenue has been below forecasted numbers as a result of Covid-19.

Spotify CEO Daniel Ek, said the company is in better position because the company relies less on revenue derived from advertisements.

Spotify has also began investing more into podcasts which has seen a tremendous leap this year, especially due to the Coronavirus.

https://www.cnn.com/2020/04/29/media/spotify-earnings/index.html

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