![]() Spotify is most well known as a music streaming service. However, its investments into different audio formats (including podcasts) should make up for these losses. premium subscribers, could hurt Spotify's revenue growth in the short term. This, along with a higher percentage of MAUs vs. Users in countries with lower GDP per capita will likely not pay as much as users in Western nations, where the average premium subscriber shells out $10 a month to use Spotify (or $15 a month for a family plan). Strong international growth will likely bring headwinds to Spotify's average revenue per user (ARPU). With all these new users to go after, don't be surprised if Spotify hits its long-term goal of 1 billion users by 2026, with premium subscribers in the 300 million-400 million range. These new markets add over 1 billion potential new users for Spotify to go after, and bring the service to every meaningful market outside of China. This past winter Spotify announced it was opening its service to 80+ new markets throughout 2021, and adding 36 new languages. This past growth is impressive, and there are signs that it should continue over the next five years - and beyond. ![]()
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