In January 2019, the company reported over 96 million paid subscribers worldwide. As such, paid subscribers account for slightly less than half of Spotify's user base of 207 million monthly active users. Spotify’s popularity continues to grow, particularly in Europe, and the company is considered one of the most popular streaming services worldwide. Spotify’s main competitors vary depending on the region. In Europe, North America, and Latin America, Spotify is one of the most successful music services in the market, but the company hasn’t managed to acquire major customer bases in the Middle East or Asia, as regional companies such as QQ Music dominate their domestic markets. Although the company has released web and desktop platforms as well, Spotify’s mobile app is particularly successful and ranks among the most popular music and entertainment apps in the United States. As of 2018, 20 percent of Americans used Spotify on a monthly basis.
Spotify’s 2018 revenue amounted to 5.26 billion euros, with a net loss of 43 million euros. This result is strongly influenced by the company’s cost of sales which mostly comprises licensing expenses towards record labels, distributers, and artists. The company invested nearly 500 million euros into research and development in 2018, and increased its number of employees to over 4,000 in order to ensure growth and solidify its position at the top of the music streaming market.