Spotify's share of monthly active users Q2 2024, by region

As of the second quarter of 2024, Europe accounted for 28 percent of Spotify monthly active users. The popular Swedish streaming service had a strong userbase in Latin America, accounting for 22 percent of Spotify's total 626 million MAUs at that time.

Spotify

Since its launch in 2008, Spotify has grown into the most widely used music streaming platform in the world, controlling over a third of the industry’s global market share. Despite being in direct competition with some of the biggest names in the tech industry, the company has managed to accumulate over one hundred million paying subscribers and millions more free and ad-supported users. Spotify has ensured that this massive userbase has led to increasing financial success. The company reported an annual revenue of around 5.3 billion euros in 2018, outpacing its 2017 figure by well over a billion dollars.

Music streaming

Music has always been an important form of human expression and entertainment, but never before has it been so easily accessible. Thanks to the growing popularity of smartphones and streaming services, hundreds of millions of people around the world have access to an almost unlimited library of music at the touch of a button. As of 2018, streaming accounted for around 75 percent of total music industry revenue, highlighting the massive influence of companies like Spotify on the music industry as a whole.