According to The Telegraph, Spotify has confirmed to have crossed the magical line of 100 million monthly active users. The Swedish startup seems to be gaining roughly 1.8 million new users every month.
With this Spotify is not only the most popular music streaming service worldwide but has also overtaken Skype as Europe’s most valuable startup. It is now worth 8.5 billion US dollars or roughly 6.9 billion (!) British pounds.
Out of the 100 million active users there are roughly 30 million paid subscribers which are mostly responsible for Spotify’s recent 80% rise in revenue compared to last year.
In the midst of Spotify success there’s also the brand new Apple Music which quietly managed to get more than 10 million paid subscribers in the first 6 months after its launch back in June 2015. Other players like Jay-Z’s Tidal streaming service are trying to compete with Spotify by offering higher quality music streams and a different artist pool.
Anyhow, it’s good to see that more and more people are refraining from pirating music and actually start using things like streaming services so artists can at least earn a bit of money through digital music sales instead of nothing at all!
Fun fact, our very own Lucy Rose did an interview with Spotify back in the early days of 2012! Be sure to check out the interview