In January 2018, the company reported over 70 million paid subscribers worldwide. As such, subscribers account for less than half of Spotify's user base of 159 million monthly active users. Spotify’s popularity continues to grow, particularly in Europe, and is considered one of the most popular streaming services worldwide. Spotify’s main competitors are Apple Music and Pandora, especially as these two platforms are strong in the United States. Spotify is particularly strong with its mobile app - it has a larger audience reach than its desktop client and is one of the most popular music and entertainment apps in the United States. As of February 2017, 18 percent of Americans used Spotify on a monthly basis.
Spotify’s 2017 revenue amounted to 4.09 billion euros, with a net loss of 378 million euros. This result is strongly influenced by the company’s cost of sales which mostly comprises licensing expenses towards record labels and artists.