Sweden’s Spotify hits one million paid music subscribers

March 8, 2011 9:02 AM
Conrad Egusa

Add a Comment

Spotify, the much-hyped music streaming company from Sweden, announced today that it has reached one million paying subscribers. Unlike most other music startups, which seek to cover the high cost of licensing music from record labels through advertising revenues, Spotify has been insistent about sticking to its freemium model, in which it gives away some services in the hopes of convincing some users to pay for more.

This model has not deterred growth, as paid users have grown over 300 percent since early 2010. Only three months ago, CEO Daniel Ek said at the conference that the company had 750,000 paying subscribers. Even at that time, Spotify claimed it had more paying subscribers than any other similar service in the world.

Spotify provides cloud-based streaming music in Europe but hasn’t entered the US market. Even so, Spotify’s company blog announced that over 200 million playlists had been created.

The company’s announcement comes on the heels of having raised a large round of financing from Russia’s DST, the investment company that has backed Facebook, Groupon and Zynga. That deal reportedly valued the company at $1 billion.

http://venturebeat.com/2011/07/06/online-music-service-spotify-headed-to-u-s/ Online music service Spotify headed to U.S. | VentureBeat

[...] is based in Sweden and has 10 million users around the world (1 million of which are paying subscribers), mainly in Europe. The company has received funding of $120 million and is valued at [...]
http://venturebeat.com/2011/07/06/spotify-to-u-s/ Online music service Spotify headed to U.S. | VentureBeat

[...] is based in Sweden and has 10 million users around the world (1 million of which are paying subscribers.) The company has raised $120 million and is valued at around $1 billion. It recently [...]
http://androidrockstar.com/?p=15380 Spotify to bring its online music service to the U.S.

[...] is based in Sweden and has 10 million users around the world (1 million of whom are paying subscribers). The company has raised $120 million and is valued at around $1 billion. It recently [...]
http://modern-techie.com/online-music-service-spotify-headed-to-u-s/ Online music service Spotify headed to U.S. | Modern Techie

[...] is predicated in Sweden and has 10 million users world wide ( 1 million of that are paying subscribers.) The corporate has raised $120 million and is worth around $1 billion. It recently [...]
http://venturebeat.com/2011/07/13/spotify-coming-us-tomorrow/ Spotify launches in U.S. tomorrow (finally) | VentureBeat

[...] is based in Sweden and has 10 million users around the world (1 million of whom are paying subscribers). The company has raised $120 million and is valued at around $1 billion. It recently [...]
http://modern-techie.com/spotify-launches-in-u-s-tomorrow-finally/ Spotify launches in U.S. tomorrow (finally) | Modern Techie

[...] is predicated in Sweden and has 10 million users around the globe ( 1 million of whom are paying subscribers). The corporate has raised $120 million and is worth around $1 billion. It recently [...]
http://venturebeat.com/2011/03/29/forrester-amazon-cloud-music-service-is-not-that-innovative/ Forrester yawns at Amazon Cloud Player | VentureBeat

[...] Spotify has been successful with it’s freemium model: the users can access the whole online music library for free if they’re satisfied with lower-quality music, advertisements and computer access. If you decide to pay the 10-euro premium price, you get no ads and better quality music. In addition you can use the service with iOS devices, Android, Nokia smartphones and many others. [...]
http://venturebeat.com/2011/09/21/spotify-paying-subscribers/ Spotify is singing success: 2M paying subscribers | VentureBeat

[...] company announced that it reached a million paying subscribers in March 2011 — thus doubling its premium subscriber base in just six [...]
http://onlinemagazine.pcriot.com/?p=43228 OnlineMagazine » Blog Archive » Spotify is singing success: 2M paying subscribers

[...] company announced that it reached a million paying subscribers in March 2011 — thus doubling its premium subscriber base in just six [...]
http://prosglobal.tv/blog/2011/09/spotify-is-singing-success-2m-paying-subscribers/ Spotify is singing success: 2M paying subscribers

[...] company announced that it reached a million paying subscribers in March 2011 — thus doubling its premium subscriber base in just six [...]