2M Spotify users downloaded a hacked app to block ads

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At the end of 2018, it believes more than 200-million users - 208-million to be exact - could be using the service at least once a month, up by 30% over the previous year. It also expects total MAUs to reach 168-171 million this month.

In normal circumstances when companies embark on an initial public offering (IPO), the process involves the issuing of new shares in the company in order to raise extra funds to either fund an expansion programme, or to pay down debt.

Spotify's revenue is projected to grow at a slower tempo this year, as the music streaming site readies for its public listing next week.

"On March 21, 2018, we detected instances of approximately two million users as of December 31, 2017, who have been suppressing advertisements without payment". The number of paid subscribers should grow slightly faster, by 30-36 percent this year to 92-96 million. Spotify had around 86 million clients at the end of 2017, so 2 countless those accounts evading limitations composes nearly 2.3 percent of Spotify's cost-free individuals.

Earlier this month, Spotify sent a warning email to users with "modified" apps, saying access will be disabled because of some abnormal activities.

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As a result, Spotify has adjusted its monthly active users from 159 million to 157 million at the end of 2017.

Legitimate Premium subscribers make up 71 million of those. Content hours streaming a year ago is down by 1.2%- 40.3 billion from the previous data to only 39.8 billion hours of content.

We already knew that Spotify was trying to guide public attention to its platform growth rather than profits, as it looks to out-maneuver rivals such as Apple and Google.

Based on Spotify's latest guidance, it appears that the company's onboarding strategy could well be working, albeit slowly in terms of its paid to free ratio. Spotify CEO Daniel Ek is eligible to sell 15.8 million shares (less than one-third of his total holdings).

Currently, Spotify remains the largest music streaming service around, with Apple Music considered as its closest competitor.