Spotify has announced it has surpassed 300 million subscribers for the first time. The streaming service also reported reaching 777 million monthly active users in the second quarter, a 12% increase from a year earlier.
The company's subscriber base grew by 9% in the second quarter, despite price increases in several regions this year. Spotify's quarterly revenue reached €4.8 billion ($5.52 billion), marking a 14% rise from the previous year.
Spotify has been actively developing AI features, including tools for personalised podcasts and an experimental desktop app launched in May. The platform has also introduced AI-powered Q&A and briefing-generation for podcasts, partnered on an audiobook creation tool, and made a deal with music labels for fan-generated remixes. Last month, a new conversational AI assistant was launched, allowing users to control app content with prompts.
The platform is experiencing subscriber growth even amid increasing criticism regarding its hosting of AI-generated music. To address user concerns, Spotify has implemented an artist verification system and introduced optional labelling for AI-generated music last year.