Spotify Just Reached 300 Million Paying Subscribers. No Audio Streaming Service Has Ever Done That.

Spotify (NYSE: SPOT) ended the second quarter with 300 million Premium subscribers -- a level the company says no audio streaming service has ever reached. The milestone came in Tuesday's report, which showed the streaming giant added 7 million paying subscribers during the period, for year-over-year growth of 9%.The rest of the report was strong, too. Monthly active users grew 12% year over year to 777 million. Revenue rose 14% to 4.8 billion euros. And gross margin (the share of each euro left after paying music rights holders and other direct costs) hit 33.4%, an all-time record for the company.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool