Online streaming services have experienced an immense surge in their popularity as well as their usage. In a recent financial report, Spotify unveils their Q1 2020 earnings that amounted to around US $ 2 billion in revenue.

The music streaming platform also revealed that the total number of monthly active users has risen to 286 million which is a 31 per cent rise from last year. According to Spotify, the rise in its active user base is majorly due to social distancing and self-quarantining norms present across many countries.

However, the number of users in countries with severe impacts of coronavirus has gone down along with paid users and new users. They also revealed that the major streaming devices have changed from cars, wearables and web to TVs, gaming consoles and smartphones.

Spotify also recorded around 1 million podcast channels making it one of the largest podcast platforms in the world.

While the company is making tonnes of money, they are also donating to various organisations that are fighting COVID-19.