I checked in with Spotify, which clarified that the second version (90%, not 10%) is correct ergo, 90% of all streams on Spotify are now shared between 43,000 artists. Then, a few hours later, a different version of the same letter was available on Spotify’s own investor site, complete with this subtle change: “Growth in the number of artists making up our top tier - those accounting for the top 90% of streams - is accelerating that cohort now stands at over 43,000 artists, up 43% from 30,000 one year ago.”

Within the letter, the company revealed a startling statistic: “Growth in the number of artists making up our top tier - those accounting for the top 10% of streams - is accelerating that cohort now stands at over 43,000 artists, up 43% from 30,000 one year ago.” On Wednesday (July 29th), Spotify issued its customary quarterly letter to shareholders, revealing that its global subscriber base had grown by 8 million in the second quarter, up to 138 million.

I’ve been intrigued, impressed, and surprised by Spotify’s earnings results over the years - but never quite so confused.

Artist spotify stats