Spotify Succeeds on Its Home Turf

49 percent of Swedes reported having purchased a paid subscription to Spotify over the course of the last 12 months according to data from our Statista Global Consumer Survey. Apart from Mexico, no other country surveyed comes close to the penetration rate on the company's home turf as our chart shows.

Following after Mexico's 46 percent are Brazil with 36 percent and South Africa with 33 percent. Completing the North American picture are Canada and the United States with 27 and 20 percent, respectively. The company's recent announcement to suspend paid subscriptions and ad rollouts in Russia in the wake of its invasion of Ukraine probably won't affect Spotify's bottom line too much, since only seven percent of Russian respondents claimed having purchased a paid subscription to the streaming service over the past year.

Spotify's decision to de-monetize the Russian market isn't the only reason the Swedish streaming giant made headlines this past week. On March 15, Spanish soccer mainstay FC Barcelona announced the renaming of its Camp Nou stadium to Spotify Camp Nou as part of a sponsorship deal with the corporation, sparking bewilderment and outrage among fans and an overnight jump in share price of 3.5 percent after markets closing on the same day. This publicity push might help the streaming service to improve its financial situation: Despite having passed 400 million monthly active users and making 2.7 billion euros in revenue in Q4 of last year, the company accumulated a loss of seven million euros in the last three months of 2021 after a brief respite in the first and third quarters.