Spotify (SPOT) now has 100 million people globally paying for its premium music service, a 32% jump year-over-year. The company revealed that it had reached milestone in its first quarter earnings.
Here's what else you should know:
- Spotify brought in $1.7 billion in quarterly revenue, slightly above analysts' expectations.
- In total, Spotify has 217 million monthly users, a leap of 26% year-over-year.
- It said its recently launched Indian service now has 2 million subscribers and added that "growth has continued to outpace our expectations."
- Shares are up nearly 5% in premarket trading.