In addition, the company is also trying to bring former premium users back to the fold by offering them three months of premium for the cost of one.

However, this is only a limited-time offer that is valid through Sept. Spotify is offering all new subscribers three months of Premium membership for free. Related: Favorite Music Guru For Spotify: How To Find Your Top Artists & Tracks According to the company's shareholder report, it has more than 433 million monthly active users globally (as of Q2, 2022), including 188 million paying subscribers, up from 182 million in Q1.

However, despite limited success with its hardware venture, the company remains the global market leader in music streaming, ahead of Apple Music, Amazon Music, Tidal, etc. The device was initially announced in 2019 before being made available for purchase on an invite-only basis in 2021. For example, the company recently discontinued its 'Car Thing' dashboard accessory five months after its official launch. Known worldwide as the world's largest music streaming service, Spotify has also dabbled in hardware, albeit without success.

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