Spotify's Q1 revenue stands at USD 2 billion, monthly users now at 286 million

Seems like music is becoming the new solace for people during lockdown as the Q1 revenue of world's biggest music service Spotify stood at USD 2 billion on Wednesday.

Besides a spike in the revenue, the company also reported a 31 per cent increase in its subscribers with its monthly active users now standing at 286 million, according to TechCrunch.

Among the 286 million users, 130 million are premium or users that pay for the music services while 163 million are ad-supported.

Spotify had launched several news podcasts, playlists, and additional music programmes on the medium post coronavirus outbreak for helping sail through the lockdown period.

( With inputs from ANI )