Spotify said “every day now looks like the weekend” for its users as it reported a rebound in listening after an initial hit during the coronavirus lockdown.
The music streaming site said its data showed how morning routines had “changed significantly” with a drop-off for commuting motorists but a rise in usage during cooking and household chores.
Consumers surveyed by the company in the US said they were increasingly using music to manage stress – and this was reflected in increase searches for “chill” and “instrumental” songs and an uptick for podcasts on wellness and meditation.
The findings came as Spotify reported a better than expected rise in premium subscribers to 130 million, up 31% on a year earlier.
Revenues rose 22% to €1.85bn, though a 17% rise in income from ads fell short of the company’s expectations. This was blamed on the impact of COVID-19.
While growth on those metrics remained strong, the company remained loss-making, though its shortfall of €17m was smaller than the €47m loss posted a year earlier.
Spotify said that it began to see an impact to its business from the coronavirus from late February.
It said that monthly user numbers and subscriptions broadly held steady, but there was “notable decline” in Italy and Spain, countries badly hit by the virus.
“But over the last few weeks, we’ve seen listening start to rebound, and in many markets, consumption has meaningfully recovered,” Spotify said.
It said usage in car and wearable devices had dropped, sometimes by double digit percentages, but that listening through TV and game consoles had surged by up to 50%.
Spotify said: “It’s clear from our data that morning routines have changed significantly.
“Every day now looks like the weekend.
“This trend was seen more significantly in podcasts than in music, likely due to the fact that car and commute use cases have changed quite dramatically.
“However, listening time around activities like cooking, doing chores, family time, and relaxing at home have each been up double digits over the past few weeks.
“Audio has also taken on a greater role in managing the stress and anxiety many are feeling in today’s unprecedented environment.”