In March 2017, the company reported over 50 million paid subscribers worldwide. As such, subscribers account for less than half of Spotify's user base of 140 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 2016 revenue amounted to 2.93 billion euros with a net loss of 539 million euros. This result is strongly influenced by the company’s cost of sales which mostly comprises licensing expenses towards record labels and artists.