Chief Executive Daniel Ek tried to reassure investors that Spotify’s business is strong, despite economic turbulence roiling other industries.

Spotify continued to add subscribers during the first quarter, which is usually a softer period for the audio streaming company, and expects growth to accelerate through the rest of the year despite a choppy macroeconomic environment.

In a world where everyone has a playlist for every mood, Spotify just dropped some numbers that prove music streaming isn’t just alive—it’s thriving. The streaming giant's subscriber base climbed 12%,

Spotify reported on Tuesday that its premium subscriber base grew by 5 million in the first quarter, representing a 12% increase year-over-year. This Spotify reported its premium subscriber base grew by 5M in the first quarter,

For the second quarter, Spotify expects to hit 689 monthly active users, adding 11 million users in the quarter, and 273 million paid subscribers, with the addition of 5 million in the quarter.