Spotify’s second-quarter financial release exhibits the streaming big hasn’t but felt the dread hand of the looming world recession. Unlike Netflix, which needed to report a fall in its total buyer base, Spotify has seen each free and paying accounts develop. It now has 433 million customers, up from the 422 million reported on the finish of the primary quarter. 188 million of these are paying for Premium, a leap of six million from three months in the past, whereas an extra 4 million are signed up on an ad-supported foundation.

Despite industry-wide fears that family budgets would minimize leisure prices to assist liberate much-needed money, Spotify has dodged cost-cutting up to now. The firm mentioned that whereas it was keeping track of the “uncertain” atmosphere, it was “pleased with the resilience of [its] business.” That mentioned, the corporate did spend huge to assist develop its consumer figures, with advertising and marketing campaigns designed to coax again customers who let their subscriptions lapse, or who wished to broaden to a household plan.

That advertising and marketing spend helped blow a gap within the firm’s funds, with Spotify posting a quarterly lack of €194 million ($197 million). The firm is banking on sharp will increase in income each for subscriptions and promoting to assist steadiness these losses out. In addition, its plan to pivot towards cheaper types of audio content material, like podcasts and audiobooks, ought to see the amount of money it pays to file labels fall to a extra tolerable (for Spotify) stage — even when recording artists proceed to show that they’re being starved of an revenue by the piddling royalties paid out on a per-stream foundation.