Fun Fact #5
Spotify has reached 140 Million active users this year!
2017 has been a positive year for the streaming music giant, Spotify. In March they announced that they had reached 50 Million paid subscribers and now they’ve set a new record with more than 140 million active users. What’s more is that the platform brought in 50% more revenue from ads since 2016.
We wrote a post earlier this year about why Spotify is such an attractive platform for advertisers. The answer is fourfold:
- Audio ads are particularly effective against ad blockers
- “75% of digital audio listeners think commercials are totally fine on a free streaming service. 47% also said that ads are even less intrusive on a service like Spotify, rather than traditional radio.”
- Since banners appear when audio ads are heard, there is an interplay between audio and visual that is unique to the platform and potentially more effective at reaching users than just banner ads, by using more than one sense.
- Advertisers have the ability to target users by age, gender, musical genre and even by playlist!
If Spotify continues to play their cards right, they will continue to dominate music streaming, not only for listeners, but for advertisers too.