Media

Spotify now has 40 million users — but just 10 million pay to stream songs

Image Credit: Spotify

Spotify today announced a new milestone: The streaming music company now has 40 million users, 10 million of which pay up for the service.

This announcement arrives at a unique time for the music industry, as Apple has reportedly snapped up Spotify’s struggling streaming competitor — and highly successful headphones manufacturer — Beats Electronics. Fourteen months ago, Spotify announced 6 million paid users.

More information:

Spotify is a Swedish DRM-based music streaming service offering streaming of selected music from a range of major and independent record labels, including Sony, EMI, Warner Music Group, and Universal.[ Launched in October 2008 by Swedi... read more »

Beats Music is a music streaming service spun out of Beats Electronics and into its own company in early 2013. The core experience will be centered around curated playlists created by musicians and music writers. It is currently in pri... read more »

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12 comments
Gene Warren
Gene Warren

Just 10 million are paying? Doesn't that work out to annual revenue of ~ 1.2 billion? Not too shabby

victoria_potter
victoria_potter

@invoke if 1/4 of your user base is paid, AND that number is 10 million, I'd say you're doing pretty alright

Ziv Fishfedder
Ziv Fishfedder

so the other 30M are listening to ads, and someone is paying for these ads to be there ...